StockNews.com upgraded shares of Tredegar (NYSE:TG – Get Rating) from a buy rating to a strong-buy rating in a research report report published on Wednesday.
Tredegar Stock Up 1.9 %
Shares of NYSE:TG opened at $10.41 on Wednesday. The stock has a market capitalization of $352.41 million, a price-to-earnings ratio of 5.37 and a beta of 0.97. Tredegar has a 1-year low of $9.69 and a 1-year high of $13.47. The company’s fifty day moving average is $10.95 and its two-hundred day moving average is $11.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.60.
Tredegar (NYSE:TG – Get Rating) last issued its earnings results on Monday, May 9th. The basic materials company reported $0.50 earnings per share for the quarter. Tredegar had a net margin of 7.36% and a return on equity of 27.02%. The company had revenue of $236.30 million for the quarter.
Tredegar Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 17th were issued a $0.12 dividend. The ex-dividend date was Thursday, June 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.61%. Tredegar’s dividend payout ratio (DPR) is presently 24.74%.
Institutional Trading of Tredegar
A number of large investors have recently modified their holdings of TG. DAVENPORT & Co LLC increased its stake in Tredegar by 4.4% during the 2nd quarter. DAVENPORT & Co LLC now owns 43,486 shares of the basic materials company’s stock valued at $435,000 after buying an additional 1,826 shares during the period. Bank of America Corp DE increased its stake in Tredegar by 6.3% during the 1st quarter. Bank of America Corp DE now owns 269,375 shares of the basic materials company’s stock valued at $3,229,000 after buying an additional 15,849 shares during the period. Gabelli Funds LLC increased its stake in Tredegar by 4.5% during the 1st quarter. Gabelli Funds LLC now owns 449,178 shares of the basic materials company’s stock valued at $5,386,000 after buying an additional 19,178 shares during the period. Gamco Investors INC. ET AL increased its stake in Tredegar by 5.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,193,336 shares of the basic materials company’s stock valued at $38,288,000 after buying an additional 174,531 shares during the period. Finally, Zebra Capital Management LLC acquired a new position in Tredegar during the 1st quarter valued at about $165,000. Institutional investors and hedge funds own 61.58% of the company’s stock.
Tredegar Company Profile
Tredegar Corporation, through its subsidiaries, manufactures and sells aluminum extrusions, polyethylene (PE) films, and polyester films in the United States and internationally. It operates through three segments: Aluminum Extrusions, PE Films, and Flexible Packaging Films. The Aluminum Extrusions segment produces soft-alloy and medium-strength custom fabricated and finished aluminum extrusions for the building and construction, automotive and transportation, consumer durables, machinery and equipment, electrical and renewable energy, and distribution markets; and manufactures mill, anodized, and painted and fabricated aluminum extrusions to fabricators and distributors.
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