Gabelli Funds LLC decreased its holdings in Tredegar Co. (NYSE:TG) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 563,700 shares of the basic materials company’s stock after selling 52,870 shares during the quarter. Gabelli Funds LLC owned approximately 1.70% of Tredegar worth $12,204,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. raised its position in Tredegar by 179.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 5,439 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 3,492 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Tredegar in the 2nd quarter valued at $140,000. First Hawaiian Bank acquired a new stake in shares of Tredegar in the 3rd quarter valued at $141,000. First Quadrant L P CA acquired a new stake in shares of Tredegar in the 3rd quarter valued at $174,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Tredegar in the 2nd quarter valued at $231,000. Hedge funds and other institutional investors own 63.99% of the company’s stock.
Separately, ValuEngine cut Tredegar from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd.
NYSE TG opened at $16.75 on Friday. The firm has a market capitalization of $654.55 million, a PE ratio of 16.16 and a beta of 1.23. Tredegar Co. has a 52 week low of $15.35 and a 52 week high of $26.50. The company has a quick ratio of 1.27, a current ratio of 1.80 and a debt-to-equity ratio of 0.33.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th will be paid a $0.11 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.44 annualized dividend and a dividend yield of 2.63%.
COPYRIGHT VIOLATION WARNING: “Tredegar Co. (TG) Shares Sold by Gabelli Funds LLC” was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was illegally copied and republished in violation of U.S. & international trademark and copyright legislation. The correct version of this story can be viewed at https://www.americanbankingnews.com/2018/11/10/tredegar-co-tg-shares-sold-by-gabelli-funds-llc.html.
Tredegar Corporation, through its subsidiaries, manufactures and sells polyethylene (PE) plastic films, polyester films, and aluminum extrusions worldwide. It operates through PE Films, Flexible Packaging Films, and Aluminum Extrusions segments. The PE Films segment offers personal care materials, such as apertured films and laminate materials for use in feminine hygiene products, baby diapers, and adult incontinence products under the ComfortAire, ComfortFeel, and FreshFeel brands; elastic materials for use as components for baby diapers, adult incontinence products, and feminine hygiene products under the ExtraFlex and FlexAire brands; and three-dimensional apertured film transfer layers for baby diapers and adult incontinence products under the AquiDry and AquiDry Plus brands.
Featured Article: Do stock splits help investors?
Receive News & Ratings for Tredegar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tredegar and related companies with MarketBeat.com's FREE daily email newsletter.