Hsbc Holdings PLC Decreases Stake in Tredegar Co. (NYSE:TG)

Hsbc Holdings PLC cut its stake in shares of Tredegar Co. (NYSE:TG) by 17.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 42,783 shares of the basic materials company’s stock after selling 8,763 shares during the quarter. Hsbc Holdings PLC’s holdings in Tredegar were worth $331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Gamco Investors INC. ET AL grew its stake in Tredegar by 10.0% during the 4th quarter. Gamco Investors INC. ET AL now owns 5,623,809 shares of the basic materials company’s stock valued at $43,191,000 after purchasing an additional 513,415 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Tredegar by 35.0% during the fourth quarter. American Century Companies Inc. now owns 503,066 shares of the basic materials company’s stock worth $3,864,000 after purchasing an additional 130,291 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Tredegar by 608.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 151,269 shares of the basic materials company’s stock valued at $1,162,000 after buying an additional 129,909 shares during the last quarter. Gabelli Funds LLC increased its holdings in Tredegar by 13.2% in the 4th quarter. Gabelli Funds LLC now owns 1,062,415 shares of the basic materials company’s stock worth $8,159,000 after buying an additional 124,115 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its position in Tredegar by 569.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 99,167 shares of the basic materials company’s stock worth $762,000 after buying an additional 84,363 shares during the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Tredegar from a “hold” rating to a “buy” rating in a research note on Monday, March 24th.

Tredegar Stock Performance

NYSE TG opened at $8.33 on Friday. Tredegar Co. has a fifty-two week low of $4.31 and a fifty-two week high of $9.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.42 and a current ratio of 0.79. The firm has a market capitalization of $288.71 million, a P/E ratio of -10.54 and a beta of 0.78. The stock has a 50-day simple moving average of $7.44 and a two-hundred day simple moving average of $7.64.

Tredegar (NYSE:TG) last announced its quarterly earnings results on Thursday, May 8th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter. Tredegar had a positive return on equity of 10.10% and a negative net margin of 3.84%.

Tredegar 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.