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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
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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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