Comerica Bank Acquires 686 Shares of Tredegar Co. (NYSE:TG)

Comerica Bank raised its stake in Tredegar Co. (NYSE:TG) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,503 shares of the basic materials company’s stock after buying an additional 686 shares during the period. Comerica Bank owned approximately 0.08% of Tredegar worth $448,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Morgan Stanley raised its stake in shares of Tredegar by 24.5% in the 3rd quarter. Morgan Stanley now owns 179,255 shares of the basic materials company’s stock valued at $3,881,000 after acquiring an additional 35,302 shares during the period. Teachers Advisors LLC increased its stake in Tredegar by 6.5% during the 3rd quarter. Teachers Advisors LLC now owns 50,339 shares of the basic materials company’s stock worth $1,090,000 after buying an additional 3,073 shares during the period. Strs Ohio grew its holdings in Tredegar by 14.6% during the 4th quarter. Strs Ohio now owns 40,000 shares of the basic materials company’s stock worth $634,000 after acquiring an additional 5,100 shares in the last quarter. Alambic Investment Management L.P. grew its holdings in Tredegar by 49.3% during the 4th quarter. Alambic Investment Management L.P. now owns 107,060 shares of the basic materials company’s stock worth $1,698,000 after acquiring an additional 35,351 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Tredegar by 3.2% during the 4th quarter. BlackRock Inc. now owns 3,877,473 shares of the basic materials company’s stock worth $61,497,000 after acquiring an additional 119,363 shares in the last quarter. 65.53% of the stock is owned by institutional investors.

Several research analysts have weighed in on TG shares. TheStreet raised shares of Tredegar from a “c-” rating to a “b-” rating in a report on Friday, March 22nd. ValuEngine lowered shares of Tredegar from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th.

Shares of NYSE TG traded up $0.15 during midday trading on Monday, hitting $16.77. The company’s stock had a trading volume of 81,327 shares, compared to its average volume of 91,953. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.23 and a current ratio of 1.88. The business has a fifty day simple moving average of $16.23. The firm has a market cap of $551.76 million, a price-to-earnings ratio of 13.19 and a beta of 1.09. Tredegar Co. has a 1-year low of $14.85 and a 1-year high of $26.50.

Tredegar (NYSE:TG) last posted its earnings results on Thursday, May 9th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter. The firm had revenue of $248.47 million during the quarter. Tredegar had a net margin of 2.51% and a return on equity of 11.68%.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, June 13th.

Tredegar Company Profile

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 AquiSoft, AquiDry, and AquiDry Plus brands.

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Institutional Ownership by Quarter for Tredegar (NYSE:TG)

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