Tredegar Co. (TG) Shares Bought by Rhumbline Advisers
Rhumbline Advisers raised its holdings in shares of Tredegar Co. (NYSE:TG) by 0.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,021 shares of the basic materials company’s stock after buying an additional 15 shares during the quarter. Rhumbline Advisers owned about 0.16% of Tredegar worth $809,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Arizona State Retirement System lifted its holdings in shares of Tredegar by 0.8% during the second quarter. Arizona State Retirement System now owns 13,284 shares of the basic materials company’s stock worth $203,000 after buying an additional 100 shares during the last quarter. Texas Permanent School Fund lifted its holdings in shares of Tredegar by 1.1% during the second quarter. Texas Permanent School Fund now owns 18,570 shares of the basic materials company’s stock worth $283,000 after buying an additional 193 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Tredegar by 10.1% during the second quarter. Great West Life Assurance Co. Can now owns 37,646 shares of the basic materials company’s stock worth $572,000 after buying an additional 3,450 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of Tredegar by 85.8% during 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 during the last quarter. Institutional investors own 62.67% of the company’s stock.
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Tredegar Co. (NYSE TG) opened at 18.15 on Thursday. The firm has a market capitalization of $598.22 million, a price-to-earnings ratio of 9.70 and a beta of 1.74. Tredegar Co. has a 52 week low of $14.65 and a 52 week high of $25.60. The company has a 50 day moving average price of $16.48 and a 200-day moving average price of $16.34.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.44 annualized dividend and a yield of 2.56%. Tredegar’s payout ratio is currently 23.53%.
A number of brokerages have recently commented on TG. BidaskClub upgraded Tredegar from a “strong sell” rating to a “sell” rating in a report on Saturday, August 5th. TheStreet upgraded Tredegar from a “c+” rating to a “b-” rating in a report on Friday, August 25th.
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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