Assenagon Asset Management S.A. Sells 70,197 Shares of Tredegar Co. (NYSE:TG)

Assenagon Asset Management S.A. lowered its stake in shares of Tredegar Co. (NYSE:TG) by 47.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,747 shares of the basic materials company’s stock after selling 70,197 shares during the period. Assenagon Asset Management S.A. owned 0.23% of Tredegar worth $597,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TG. Gladius Capital Management LP bought a new stake in Tredegar during the third quarter worth $40,000. XTX Topco Ltd bought a new position in shares of Tredegar in the 2nd quarter valued at about $49,000. AQR Capital Management LLC acquired a new position in shares of Tredegar during the 2nd quarter worth about $49,000. FMR LLC raised its holdings in shares of Tredegar by 161.5% in the 3rd quarter. FMR LLC now owns 9,445 shares of the basic materials company’s stock valued at $69,000 after purchasing an additional 5,833 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Tredegar in the 3rd quarter valued at about $74,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered Tredegar from a “buy” rating to a “hold” rating in a research note on Tuesday, December 31st.

Tredegar Trading Up 2.0 %

TG stock opened at $7.90 on Friday. The stock has a market cap of $271.27 million, a price-to-earnings ratio of -9.99 and a beta of 0.81. The company has a fifty day moving average price of $7.64 and a two-hundred day moving average price of $6.93. Tredegar Co. has a one year low of $3.98 and a one year high of $9.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.79 and a quick ratio of 0.42.

Tredegar (NYSE:TG) last released its quarterly earnings results on Friday, November 8th. The basic materials company reported $0.01 earnings per share for the quarter. Tredegar had a negative net margin of 3.84% and a positive return on equity of 10.10%. The firm had revenue of $182.05 million for the quarter.

Tredegar Company Profile

Tredegar Corporation manufactures and sells aluminum extrusions, polyethylene (PE) films, and plastic and polyester films in the United States and internationally. It operates through three segments: Aluminum Extrusions, PE Films, and Flexible Packaging Films. The Aluminum Extrusions segment produces soft and medium strength alloyed aluminum extrusions, custom fabricated and finished aluminum extrusions for the building and construction, automotive and transportation, consumer durables, machinery and equipment, electrical and renewable energy, and distribution markets; and manufactures mill, anodized, and painted and alloyed aluminum extrusions to fabricators and distributors.