Gamco Investors, Inc. Et Al Sells 700 Shares of Tredegar Corporation (TG) Stock
Tredegar Corporation (NYSE:TG) major shareholder Gamco Investors, Inc. Et Al sold 700 shares of Tredegar Corporation stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $16.30, for a total transaction of $11,410.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Tredegar Corporation (NYSE TG) traded down 0.31% during mid-day trading on Friday, reaching $16.25. 55,316 shares of the company traded hands. The firm has a market capitalization of $536.74 million, a P/E ratio of 8.69 and a beta of 1.77. Tredegar Corporation has a 12-month low of $14.65 and a 12-month high of $25.60. The company’s 50 day moving average price is $15.95 and its 200 day moving average price is $16.96.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Thursday, September 14th. Tredegar Corporation’s dividend payout ratio (DPR) is presently 23.53%.
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Separately, BidaskClub raised shares of Tredegar Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th.
Several institutional investors have recently made changes to their positions in TG. Gamco Investors INC. ET AL raised its position in shares of Tredegar Corporation by 6.3% in the second quarter. Gamco Investors INC. ET AL now owns 4,851,213 shares of the basic materials company’s stock valued at $73,981,000 after buying an additional 286,897 shares during the period. Vanguard Group Inc. increased its stake in Tredegar Corporation by 7.3% in the second quarter. Vanguard Group Inc. now owns 2,622,458 shares of the basic materials company’s stock valued at $39,992,000 after buying an additional 177,637 shares in the last quarter. Teton Advisors Inc. increased its stake in Tredegar Corporation by 32.8% in the second quarter. Teton Advisors Inc. now owns 507,600 shares of the basic materials company’s stock valued at $7,741,000 after buying an additional 125,340 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Tredegar Corporation by 292.8% in the second quarter. JPMorgan Chase & Co. now owns 64,683 shares of the basic materials company’s stock valued at $986,000 after buying an additional 48,216 shares in the last quarter. Finally, IndexIQ Advisors LLC purchased a new stake in Tredegar Corporation during the second quarter valued at about $411,000. 63.88% of the stock is currently owned by institutional investors and hedge funds.
About Tredegar Corporation
Tredegar Corporation is engaged in the manufacture of polyethylene plastic films, polyester films and aluminum extrusions. The Company’s segments are PE Films, Flexible Packaging Films and Aluminum Extrusions. The PE Films segment manufactures plastic films, elastics and laminate materials utilized in personal care materials, surface protection films and specialty and optical lighting applications.
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