Tredegar Corporation (TG) Holdings Lifted by Ameriprise Financial Inc.
Ameriprise Financial Inc. grew its position in Tredegar Corporation (NYSE:TG) by 13.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,051 shares of the basic materials company’s stock after buying an additional 19,418 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.50% of Tredegar worth $2,990,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in TG. Vanguard Group Inc. boosted its holdings in shares of Tredegar by 7.3% in the second quarter. Vanguard Group Inc. now owns 2,622,458 shares of the basic materials company’s stock worth $39,992,000 after buying an additional 177,637 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Tredegar by 292.8% in the second quarter. JPMorgan Chase & Co. now owns 64,683 shares of the basic materials company’s stock worth $986,000 after buying an additional 48,216 shares during the period. IndexIQ Advisors LLC boosted its holdings in shares of Tredegar by 83.1% in the third quarter. IndexIQ Advisors LLC now owns 49,387 shares of the basic materials company’s stock worth $889,000 after buying an additional 22,418 shares during the period. Northern Trust Corp boosted its holdings in shares of Tredegar by 6.7% in the second quarter. Northern Trust Corp now owns 353,174 shares of the basic materials company’s stock worth $5,386,000 after buying an additional 22,028 shares during the period. Finally, Citadel Advisors LLC acquired a new position in shares of Tredegar in the second quarter worth about $293,000. Institutional investors own 62.62% of the company’s stock.
Tredegar Corporation (NYSE:TG) opened at $19.35 on Friday. Tredegar Corporation has a fifty-two week low of $14.65 and a fifty-two week high of $24.95. The company has a market cap of $647.33, a PE ratio of 11.06 and a beta of 1.76. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.47.
Tredegar (NYSE:TG) last announced its earnings results on Tuesday, October 31st. The basic materials company reported $0.28 EPS for the quarter. Tredegar had a net margin of 6.06% and a return on equity of 7.96%. The company had revenue of $247.16 million during the quarter.
The company also recently announced a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Friday, December 15th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Thursday, December 14th. Tredegar’s payout ratio is 25.14%.
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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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