AQR Capital Management LLC lessened its stake in shares of Tredegar Co. (NYSE:TG) by 25.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,444 shares of the basic materials company’s stock after selling 4,866 shares during the period. AQR Capital Management LLC’s holdings in Tredegar were worth $240,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Manchester Financial Inc. acquired a new position in Tredegar during the second quarter valued at approximately $32,000. Meeder Asset Management Inc. grew its holdings in Tredegar by 55.3% during the second quarter. Meeder Asset Management Inc. now owns 5,361 shares of the basic materials company’s stock valued at $89,000 after purchasing an additional 1,909 shares during the last quarter. Zebra Capital Management LLC acquired a new position in Tredegar during the second quarter valued at approximately $179,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Tredegar during the second quarter valued at approximately $194,000. Finally, Investors Research Corp grew its holdings in Tredegar by 4.7% during the second quarter. Investors Research Corp now owns 13,300 shares of the basic materials company’s stock valued at $221,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 65.33% of the company’s stock.
Separately, ValuEngine upgraded Tredegar from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th.
Tredegar (NYSE:TG) last announced its quarterly earnings data on Thursday, August 8th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter. The business had revenue of $248.25 million for the quarter. Tredegar had a net margin of 2.53% and a return on equity of 11.55%.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.12 dividend. This is an increase from Tredegar’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.48 annualized dividend and a dividend yield of 2.47%.
Tredegar Corporation, through its subsidiaries, manufactures and sells polyethylene (PE) plastic films, polyester films, and aluminum extrusions worldwide. It operates through PE Films, Flexible Packaging Films, and Aluminum Extrusions segments. The PE Films segment offers personal care materials, such as apertured films and laminate materials for use in feminine hygiene products, baby diapers, and adult incontinence products under the ComfortAire, ComfortFeel, and FreshFeel brands; elastic materials for use as components for baby diapers, adult incontinence products, and feminine hygiene products under the ExtraFlex and FlexAire brands; and three-dimensional apertured film transfer layers for baby diapers and adult incontinence products under the AquiSoft, AquiDry, and AquiDry Plus brands.
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