Bank of America Corp DE Has $22.23 Million Stake in Tredegar Co. (NYSE:TG)

Bank of America Corp DE lifted its position in shares of Tredegar Co. (NYSE:TG) by 691.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,893,980 shares of the basic materials company’s stock after purchasing an additional 2,528,530 shares during the period. Bank of America Corp DE owned 0.08% of Tredegar worth $22,226,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Gamco Investors INC. ET AL increased its position 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 worth $43,191,000 after buying an additional 513,415 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Tredegar by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,109,365 shares of the basic materials company’s stock valued at $8,520,000 after acquiring an additional 3,403 shares in the last quarter. Gabelli Funds LLC increased its position in Tredegar by 13.2% during the fourth quarter. Gabelli Funds LLC now owns 1,062,415 shares of the basic materials company’s stock worth $8,159,000 after acquiring an additional 124,115 shares during the period. American Century Companies Inc. increased its position in 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 acquiring an additional 130,291 shares during the period. Finally, Northern Trust Corp raised its stake in Tredegar by 3.8% in the 4th quarter. Northern Trust Corp now owns 233,068 shares of the basic materials company’s stock worth $1,790,000 after purchasing an additional 8,459 shares in the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

Tredegar Trading Down 0.6%

Shares of TG stock opened at $8.28 on Monday. The stock has a market cap of $289.29 million, a P/E ratio of -10.49 and a beta of 0.78. Tredegar Co. has a 1 year low of $4.31 and a 1 year high of $9.22. The company has a current ratio of 0.79, a quick ratio of 0.42 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $7.61 and a 200 day simple moving average of $7.66.

Tredegar (NYSE:TG) last released its earnings results on Thursday, May 8th. The basic materials company reported $0.10 earnings per share for the quarter. Tredegar had a positive return on equity of 10.10% and a negative net margin of 3.84%. The firm had revenue of $164.73 million during the quarter.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Tredegar from a “buy” rating to a “hold” rating in a research report on Friday, May 9th.

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.