Tredegar said on March 9, 2023 that its board of directors declared a regular quarterly dividend of $0.13 per share ($0.52 annualized). Previously, the company paid $0.13 per share.
Shares must be purchased before the ex-div date of March 23, 2023 to qualify for the dividend. Shareholders of record as of March 24, 2023 will receive the payment on April 1, 2023.
At the current share price of $11.44 / share, the stock's dividend yield is 4.55%. Looking back five years and taking a sample every week, the average dividend yield has been 3.18%, the lowest has been 1.72%, and the highest has been 5.47%. The standard deviation of yields is 0.89 (n=235).
The current dividend yield is 1.53 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.33. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.08%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 334 funds or institutions reporting positions in Tredegar. This is a decrease of 12 owner(s) or 3.47% in the last quarter. Average portfolio weight of all funds dedicated to TG is 0.06%, a decrease of 2.22%. Total shares owned by institutions increased in the last three months by 4.05% to 26,503K shares. The put/call ratio of TG is 0.20, indicating a bullish outlook.
What are Large Shareholders Doing?
Gamco Investors, Inc. Et Al holds 3,423K shares representing 10.17% ownership of the company. In it's prior filing, the firm reported owning 3,505K shares, representing a decrease of 2.40%. The firm decreased its portfolio allocation in TG by 3.43% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 1,905K shares representing 5.66% ownership of the company. In it's prior filing, the firm reported owning 1,849K shares, representing an increase of 2.91%. The firm increased its portfolio allocation in TG by 1.44% over the last quarter.
Invesco holds 1,584K shares representing 4.71% ownership of the company. In it's prior filing, the firm reported owning 392K shares, representing an increase of 75.26%. The firm decreased its portfolio allocation in TG by 99.96% over the last quarter.
EQ ADVISORS TRUST - 1290 VT GAMCO Small Company Value Portfolio Class IA holds 1,490K shares representing 4.43% ownership of the company. No change in the last quarter.
IFRA - iShares U.S. Infrastructure ETF holds 1,063K shares representing 3.16% ownership of the company. In it's prior filing, the firm reported owning 978K shares, representing an increase of 8.04%. The firm decreased its portfolio allocation in TG by 0.39% over the last quarter.
Tredegar Background Information
(This description is provided by the company.)
redegar Corporation is a publicly traded company that manufactures plastic films and aluminum extrusions. It is headquartered in Richmond, Virginia. This company was formed in 1989 when the aluminium, plastics, and energy units of Ethyl Corporation were spun-off.
This story originally appeared on Fintel.
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