Key Points
- Tredegar insider Arijit Dasgupta purchased 2,093 shares at an average price of $7.87, investing $16,471.91 and increasing his ownership to 140,097 shares. He also bought 907 shares on August 14 and 1,000 shares in May.
- Tredegar reported quarterly earnings of $0.18 per share on revenue of $216.24 million, compared with $0.05 per share in the same period last year.
- Shares opened at $8.00, while analysts maintained a consensus “Hold” rating. Institutional investors own 79.24% of the company, with several firms establishing new positions during the second quarter.
Tredegar Corporation (NYSE:TG - Get Free Report) insider Arijit Dasgupta bought 2,093 shares of the company's stock in a transaction dated Tuesday, August 18th. The shares were purchased at an average price of $7.87 per share, with a total value of $16,471.91. Following the transaction, the insider owned 140,097 shares of the company's stock, valued at $1,102,563.39. The trade was a 1.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Arijit Dasgupta also recently made the following trade(s):
- On Friday, August 14th, Arijit Dasgupta purchased 907 shares of Tredegar stock. The shares were purchased at an average cost of $7.87 per share, for a total transaction of $7,138.09.
- On Thursday, May 21st, Arijit Dasgupta purchased 1,000 shares of Tredegar stock. The stock was purchased at an average price of $7.55 per share, for a total transaction of $7,550.00.
Tredegar Stock Up 0.2%
Shares of TG stock opened at $8.00 on Wednesday. The stock has a 50-day moving average price of $7.78 and a 200 day moving average price of $8.27. The firm has a market cap of $279.35 million, a price-to-earnings ratio of 8.33 and a beta of 0.76. Tredegar Corporation has a 12 month low of $6.25 and a 12 month high of $10.53.
Tredegar (NYSE:TG - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The basic materials company reported $0.18 earnings per share for the quarter. Tredegar had a return on equity of 14.52% and a net margin of 4.26%.The firm had revenue of $216.24 million during the quarter. During the same period in the prior year, the firm posted $0.05 earnings per share.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a "hold (c-)" rating on shares of Tredegar in a report on Friday, August 7th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Tredegar presently has a consensus rating of "Hold".
Get Our Latest Research Report on TG
Institutional Investors Weigh In On Tredegar
A number of institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC bought a new stake in Tredegar in the second quarter valued at about $630,000. Bank of America Corp DE acquired a new position in Tredegar in the second quarter valued at about $508,000. Man Group plc bought a new position in Tredegar during the second quarter worth about $190,000. Hsbc Holdings PLC bought a new position in Tredegar during the second quarter worth about $242,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Tredegar during the 2nd quarter worth about $409,000. 79.24% of the stock is owned by institutional investors and hedge funds.
Tredegar Company Profile
(
Get Free Report)
Tredegar Corporation is a diversified manufacturer specializing in high-performance plastic films and aluminum extrusions. Headquartered in Richmond, Virginia, the company operates through two primary segments—Films and Manufactured Products—serving a broad range of industries that include flexible packaging, medical devices, electronics, building and construction. Tredegar's operations focus on delivering tailored solutions that meet demanding specifications for barrier properties, film strength and extrusion tolerances.
The Films segment produces a variety of polyolefin films, including cast and blown polyethylene, BOPP (biaxially oriented polypropylene), barrier films and specialty medical-grade films.
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