M&T Bank Corp Sells 13,049 Shares of Tredegar Co. (NYSE:TG)

Posted by on Jun 7th, 2023

M&T Bank Corp lowered its holdings in Tredegar Co. (NYSE:TG – Get Rating) by 90.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,310 shares of the basic materials company’s stock after selling 13,049 shares during the quarter. M&T Bank Corp’s holdings in Tredegar were worth $113,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TG. Quadrant Capital Group LLC acquired a new stake in Tredegar in the third quarter valued at approximately $28,000. Captrust Financial Advisors increased its position in shares of Tredegar by 111.0% during the first quarter. Captrust Financial Advisors now owns 3,977 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 2,092 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tredegar by 32.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,704 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 1,148 shares in the last quarter. UBS Group AG increased its position in shares of Tredegar by 98.6% during the third quarter. UBS Group AG now owns 6,588 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 3,271 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of Tredegar during the third quarter worth $93,000. Institutional investors own 61.82% of the company’s stock.

Tredegar Stock Performance

Shares of TG stock opened at $7.44 on Wednesday. The business’s fifty day simple moving average is $8.42 and its 200-day simple moving average is $10.08. The company has a market cap of $252.89 million, a PE ratio of 22.55 and a beta of 0.93. The company has a current ratio of 1.96, a quick ratio of 0.99 and a debt-to-equity ratio of 0.77. Tredegar Co. has a 12-month low of $6.58 and a 12-month high of $12.67.

Tredegar (NYSE:TG – Get Rating) last released its earnings results on Thursday, March 16th. The basic materials company reported $0.02 earnings per share (EPS) for the quarter. Tredegar had a return on equity of 12.13% and a net margin of 1.23%. The firm had revenue of $189.15 million for the quarter.

Tredegar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 19th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 6.99%. The ex-dividend date is Thursday, June 15th. Tredegar’s payout ratio is 157.58%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Tredegar in a research report on Thursday, May 18th. They set a “hold” rating on the stock.

Tredegar Profile

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Tredegar Corp. engages in the manufacture of polyethylene (PE) plastic films, polyester films, and aluminum extrusions. It operates through the following segments: 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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Institutional Ownership by Quarter for Tredegar (NYSE:TG)

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