BidaskClub upgraded shares of Tredegar Corporation (NYSE:TG) from a strong sell rating to a sell rating in a report released on Saturday, August 5th.
Tredegar Corporation (TG) traded down 2.10% on Friday, hitting $16.30. The stock had a trading volume of 112,170 shares. The stock has a market capitalization of $537.25 million, a price-to-earnings ratio of 8.71 and a beta of 1.77. The company has a 50-day moving average price of $15.81 and a 200-day moving average price of $17.19. Tredegar Corporation has a 1-year low of $14.65 and a 1-year high of $25.60.
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The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be issued a $0.11 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.70%. Tredegar Corporation’s dividend payout ratio is presently 23.53%.
Several hedge funds and other institutional investors have recently made changes to their positions in TG. Municipal Employees Retirement System of Michigan increased its position in shares of Tredegar Corporation by 85.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 10,720 shares of the basic materials company’s stock worth $164,000 after buying an additional 4,950 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Tredegar Corporation by 10.1% in the second quarter. Great West Life Assurance Co. Can now owns 37,646 shares of the basic materials company’s stock valued at $572,000 after buying an additional 3,450 shares during the period. Texas Permanent School Fund increased its position in shares of Tredegar Corporation by 1.1% in the second quarter. Texas Permanent School Fund now owns 18,570 shares of the basic materials company’s stock valued at $283,000 after buying an additional 193 shares during the period. Arizona State Retirement System increased its position in shares of Tredegar Corporation by 0.8% in the second quarter. Arizona State Retirement System now owns 13,284 shares of the basic materials company’s stock valued at $203,000 after buying an additional 100 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Tredegar Corporation by 11.3% in the second quarter. Legal & General Group Plc now owns 49,045 shares of the basic materials company’s stock valued at $748,000 after buying an additional 4,969 shares during the period. Institutional investors and hedge funds own 63.88% of the company’s stock.
Tredegar Corporation Company Profile
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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