GAMCO Investors, Inc., led by Mario J. Gabelli, has reported a purchase of Tredegar Corp (NYSE:TG) common stock valued at approximately $3,857. This transaction, dated December 31, 2024, involved acquiring 500 shares at an average price of $7.7149 per share. The stock, currently trading at $7.84, has shown remarkable momentum with a 64% surge over the past six months. According to InvestingPro analysis, the $260 million market cap company is currently trading near its Fair Value. The purchase was made indirectly through an investment partnership, as indicated in the recent SEC filing.
Following this transaction, the total number of shares owned indirectly by the investment partnership stands at 8,000. The filing also notes that GAMCO Investors, along with Associated Capital Group (NYSE:AC), Inc., and GGCP, Inc., have less than a 100% interest in the entity holding these shares, with Mario J. Gabelli having a less than 100% interest in GGCP, Inc. This suggests that the reported ownership reflects the total amount of securities held by the entity, which is greater than the reporting persons' indirect pecuniary interests.
In other recent news, Tredegar Corporation has received approval from Brazil's Administrative Council for Economic Defense to sell its flexible packaging business, Terphane, to the Oben Group. The $116 million transaction, which includes specific post-closing commitments from Oben, is set to finalize with net proceeds of $85 million for Tredegar. In parallel, Tredegar has expanded its product offerings with the global launch of Obsidian Automotive Protective Films, a new line of high-quality masking films for the automotive industry. This development is in response to the increasing demand for surface protection in automotive applications. The new product line includes solutions for interior displays, augmented reality films for heads-up displays, and exterior components like windshields and cameras. These recent developments highlight Tredegar's commitment to innovation and its strategic business decisions. As a reminder, these facts are based on recent press releases from Tredegar Corporation.
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