Gabelli Funds LLC Increases Stock Position in Tredegar Co. (NYSE:TG)

Gabelli Funds LLC grew its position in shares of Tredegar Co. (NYSE:TG) by 26.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 831,500 shares of the basic materials company’s stock after purchasing an additional 176,091 shares during the quarter. Gabelli Funds LLC owned approximately 2.41% of Tredegar worth $3,983,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC grew its stake in Tredegar by 2.3% during the 2nd quarter. Acadian Asset Management LLC now owns 184,828 shares of the basic materials company’s stock worth $884,000 after buying an additional 4,240 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Tredegar by 198.6% during the second quarter. HB Wealth Management LLC now owns 89,580 shares of the basic materials company’s stock worth $429,000 after acquiring an additional 59,575 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Tredegar in the 1st quarter valued at $156,000. Cove Street Capital LLC raised its position in Tredegar by 510.0% in the 4th quarter. Cove Street Capital LLC now owns 11,004 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 9,200 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Tredegar by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,369,270 shares of the basic materials company’s stock worth $8,928,000 after purchasing an additional 9,674 shares during the period. Institutional investors and hedge funds own 79.24% of the company’s stock.

Tredegar Price Performance

Shares of NYSE:TG opened at $7.21 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.78 and a debt-to-equity ratio of 0.13. Tredegar Co. has a one year low of $3.98 and a one year high of $7.33. The company has a 50-day simple moving average of $5.94 and a 200-day simple moving average of $5.74.

Tredegar (NYSE:TG) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.30 EPS for the quarter. Tredegar had a positive return on equity of 6.82% and a negative net margin of 10.56%. The business had revenue of $190.56 million during the quarter.

About Tredegar

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.