Hotchkis & Wiley Capital Management LLC Trims Stock Position in Tredegar Co. (NYSE:TG)

Hotchkis & Wiley Capital Management LLC cut its stake in Tredegar Co. (NYSE:TG) by 37.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 651,906 shares of the basic materials company’s stock after selling 397,318 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Tredegar were worth $4,752,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gabelli Funds LLC raised its holdings in shares of Tredegar by 26.9% in the second quarter. Gabelli Funds LLC now owns 831,500 shares of the basic materials company’s stock valued at $3,983,000 after buying an additional 176,091 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Tredegar by 66.5% in the second quarter. American Century Companies Inc. now owns 368,376 shares of the basic materials company’s stock valued at $1,765,000 after buying an additional 147,158 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Tredegar by 2.3% in the second quarter. Acadian Asset Management LLC now owns 184,828 shares of the basic materials company’s stock valued at $884,000 after buying an additional 4,240 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Tredegar by 198.6% in the second quarter. HB Wealth Management LLC now owns 89,580 shares of the basic materials company’s stock valued at $429,000 after buying an additional 59,575 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Tredegar by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 94,353 shares of the basic materials company’s stock valued at $452,000 after buying an additional 3,246 shares during the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

Tredegar Price Performance

Shares of NYSE:TG opened at $7.66 on Friday. The company has a 50-day simple moving average of $7.51 and a 200-day simple moving average of $6.24. Tredegar Co. has a one year low of $3.98 and a one year 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 stock has a market capitalization of $263.20 million, a price-to-earnings ratio of -9.70 and a beta of 0.84.

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.