Tredegar
Tredegar Corporation, through its subsidiaries, manufactures and sells polyethylene (PE) plastic films, polyester films, and aluminum extrusions worldwide. The last earnings update was 72 days ago. More info.
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TG Share Price and Events
7 Day Returns
1 Year Returns
TG Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Tredegar (TG) | -2% | -1% | -8.2% | -32.3% | -6.7% | -17.6% |
| US Chemicals | -0% | 0.6% | -4.5% | -10.9% | 16% | 5.9% |
| US Market | -1.2% | 1.2% | 1.7% | 3.4% | 35.5% | 41.6% |
1 Year Return vs Industry and Market
- TG underperformed the Chemicals industry which returned -10.9% over the past year.
- TG underperformed the Market in United States of America which returned 3.4% over the past year.
TG Value
Is Tredegar undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Tredegar
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Tredegar.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Extrapolated from most recent financials. | See below |
| Discount Rate (Cost of Equity) | See below | 8.9% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Chemicals Unlevered Beta | Simply Wall St/ S&P Global | 0.89 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.888 (1 + (1- 21%) (23.93%)) |
1.038 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.04 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.038 * 5.96%) |
8.91% |
Discounted Cash Flow Calculation for NYSE:TG using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Tredegar is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 8.91%) |
|
|---|---|---|---|
| 2020 | 39.57 | Est @ -11.15% | 36.33 |
| 2021 | 36.81 | Est @ -6.99% | 31.03 |
| 2022 | 35.31 | Est @ -4.07% | 27.33 |
| 2023 | 34.59 | Est @ -2.03% | 24.58 |
| 2024 | 34.38 | Est @ -0.6% | 22.44 |
| 2025 | 34.52 | Est @ 0.4% | 20.68 |
| 2026 | 34.90 | Est @ 1.1% | 19.20 |
| 2027 | 35.45 | Est @ 1.59% | 17.91 |
| 2028 | 36.14 | Est @ 1.93% | 16.76 |
| 2029 | 36.92 | Est @ 2.17% | 15.72 |
| Present value of next 10 years cash flows | $231.97 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2029
× (1 + g) ÷ (Discount Rate – g)
= $36.92 × (1 + 2.73%) ÷ (8.91% – 2.73%) |
$613.37 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $613.37 ÷ (1 + 8.91%)10 |
$261.16 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $231.97 + $261.16 |
$493.13 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $493.13 / 33.11 |
$14.9 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $14.90 |
| Current discount | Discount to share price of
$16.61
= -1 x ($16.61 - $14.90) / $14.90 |
-11.5% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Tredegar is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Tredegar's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Tredegar's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $0.80 |
| NYSE:TG Share Price ** | NYSE (2019-07-19) in USD | $16.61 |
| United States of America Chemicals Industry PE Ratio | Median Figure of 67 Publicly-Listed Chemicals Companies | 18.62x |
| United States of America Market PE Ratio | Median Figure of 3,080 Publicly-Listed Companies | 17.88x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Tredegar.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:TG Share Price ÷ EPS (both in USD) = 16.61 ÷ 0.80 |
20.78x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Tredegar is overvalued based on earnings compared to the US Chemicals industry average.
- Tredegar is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Tredegar's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 20.78x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts |
17.5%per year |
| United States of America Chemicals Industry PEG Ratio | Median Figure of 49 Publicly-Listed Chemicals Companies | 1.52x |
| United States of America Market PEG Ratio | Median Figure of 2,119 Publicly-Listed Companies | 1.57x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to calculate PEG ratio for Tredegar, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Tredegar's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $11.25 |
| NYSE:TG Share Price * | NYSE (2019-07-19) in USD | $16.61 |
| United States of America Chemicals Industry PB Ratio | Median Figure of 93 Publicly-Listed Chemicals Companies | 2.1x |
| United States of America Market PB Ratio | Median Figure of 5,245 Publicly-Listed Companies | 1.79x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:TG Share Price ÷ Book Value per Share (both in USD) = 16.61 ÷ 11.25 |
1.48x |
* Primary Listing of Tredegar.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Tredegar is good value based on assets compared to the US Chemicals industry average.
Value checks
We assess Tredegar's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Chemicals industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Chemicals industry average (and greater than 0)? (1 check) Tredegar has a total score of 1/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
TG Future Performance
How is Tredegar expected to perform in the next 1 to 3 years based on estimates from 0 analysts?
- No analysts cover Tredegar, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Tredegar's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Tredegar's earnings growth is expected to exceed the United States of America market average.
- Unable to compare Tredegar's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:TG Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts | 17.5% |
| United States of America Chemicals Industry Earnings Growth Rate | Market Cap Weighted Average | 12.2% |
| United States of America Chemicals Industry Revenue Growth Rate | Market Cap Weighted Average | 4.8% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.9% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.4% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 1,055 | 94 | 26 |
| 2018-12-31 | 1,065 | 98 | 25 |
| 2018-09-30 | 1,036 | 128 | -19 |
| 2018-06-30 | 1,015 | 138 | 23 |
| 2018-03-31 | 999 | 100 | 53 |
| 2017-12-31 | 961 | 88 | 38 |
| 2017-09-30 | 920 | 68 | 58 |
| 2017-06-30 | 881 | 53 | 62 |
| 2017-03-31 | 842 | 48 | 21 |
| 2016-12-31 | 828 | 49 | 24 |
| 2016-09-30 | 841 | 75 | 17 |
| 2016-06-30 | 857 | 73 | -32 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
All data from Tredegar Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | 0.80 |
| 2018-12-31 | 0.75 |
| 2018-09-30 | -0.58 |
| 2018-06-30 | 0.70 |
| 2018-03-31 | 1.60 |
| 2017-12-31 | 1.16 |
| 2017-09-30 | 1.76 |
| 2017-06-30 | 1.88 |
| 2017-03-31 | 0.64 |
| 2016-12-31 | 0.75 |
| 2016-09-30 | 0.52 |
| 2016-06-30 | -0.98 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Unable to establish if Tredegar will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Tredegar's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Tredegar has a total score of 2/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
TG Past Performance
How has Tredegar performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Tredegar's year on year earnings growth rate has been positive over the past 5 years.
- Tredegar's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Tredegar's 1-year earnings growth is negative, it can't be compared to the US Chemicals industry average.
Earnings and Revenue History
All data from Tredegar Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 1,055.23 | 26.46 | 93.11 | 18.88 |
| 2018-12-31 | 1,065.47 | 24.84 | 93.69 | 18.71 |
| 2018-09-30 | 1,035.60 | -19.24 | 93.24 | 18.37 |
| 2018-06-30 | 1,015.43 | 23.23 | 93.31 | 17.67 |
| 2018-03-31 | 999.02 | 52.71 | 92.61 | 18.04 |
| 2017-12-31 | 961.33 | 38.25 | 89.48 | 18.29 |
| 2017-09-30 | 920.27 | 57.91 | 84.72 | 18.69 |
| 2017-06-30 | 880.85 | 61.68 | 79.31 | 18.76 |
| 2017-03-31 | 842.03 | 20.89 | 75.27 | 18.70 |
| 2016-12-31 | 828.34 | 24.47 | 82.91 | 19.12 |
| 2016-09-30 | 840.56 | 16.86 | 72.96 | 18.71 |
| 2016-06-30 | 856.63 | -31.91 | 70.18 | 17.96 |
| 2016-03-31 | 869.34 | -34.72 | 69.40 | 17.27 |
| 2015-12-31 | 896.18 | -32.14 | 66.61 | 16.17 |
| 2015-09-30 | 918.41 | -13.21 | 67.57 | 15.07 |
| 2015-06-30 | 935.06 | 34.26 | 69.77 | 14.31 |
| 2015-03-31 | 950.78 | 37.42 | 68.28 | 13.05 |
| 2014-12-31 | 951.83 | 36.03 | 69.53 | 12.15 |
| 2014-09-30 | 943.70 | 32.38 | 69.39 | 12.07 |
| 2014-06-30 | 946.47 | 29.06 | 70.33 | 12.24 |
| 2014-03-31 | 953.03 | 34.90 | 70.92 | 12.48 |
| 2013-12-31 | 959.35 | 35.94 | 71.00 | 12.67 |
| 2013-09-30 | 961.29 | 40.39 | 71.46 | 12.60 |
| 2013-06-30 | 934.74 | 47.17 | 69.12 | 12.84 |
| 2013-03-31 | 907.07 | 44.97 | 70.63 | 12.68 |
| 2012-12-31 | 882.19 | 43.19 | 71.12 | 13.16 |
| 2012-09-30 | 848.49 | 32.43 | 68.57 | 13.34 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Tredegar has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Tredegar used its assets less efficiently than the US Chemicals industry average last year based on Return on Assets.
- Tredegar has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Tredegar's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Chemicals industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Tredegar has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
TG Health
How is Tredegar's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Tredegar's finances.
The net worth of a company is the difference between its assets and liabilities.
- Tredegar is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Tredegar's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 2.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Tredegar Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 372.62 | 110.00 | 36.30 |
| 2018-12-31 | 354.86 | 101.50 | 34.40 |
| 2018-09-30 | 328.77 | 91.00 | 36.78 |
| 2018-06-30 | 367.41 | 123.00 | 62.32 |
| 2018-03-31 | 362.90 | 141.00 | 36.14 |
| 2017-12-31 | 343.78 | 152.00 | 36.49 |
| 2017-09-30 | 373.91 | 177.00 | 31.85 |
| 2017-06-30 | 359.43 | 187.25 | 24.03 |
| 2017-03-31 | 318.80 | 193.00 | 28.86 |
| 2016-12-31 | 310.78 | 95.00 | 29.51 |
| 2016-09-30 | 317.92 | 91.75 | 28.36 |
| 2016-06-30 | 305.69 | 94.00 | 27.50 |
| 2016-03-31 | 291.47 | 107.00 | 40.02 |
| 2015-12-31 | 272.75 | 104.00 | 44.16 |
| 2015-09-30 | 281.75 | 134.00 | 46.61 |
| 2015-06-30 | 355.86 | 135.00 | 47.41 |
| 2015-03-31 | 348.87 | 141.00 | 55.16 |
| 2014-12-31 | 372.03 | 137.25 | 50.06 |
| 2014-09-30 | 415.04 | 138.75 | 51.93 |
| 2014-06-30 | 423.90 | 136.75 | 44.01 |
| 2014-03-31 | 416.17 | 134.00 | 45.23 |
| 2013-12-31 | 402.66 | 139.00 | 52.62 |
| 2013-09-30 | 376.71 | 134.00 | 42.60 |
| 2013-06-30 | 368.12 | 139.00 | 44.43 |
| 2013-03-31 | 379.22 | 118.00 | 37.69 |
| 2012-12-31 | 372.25 | 128.00 | 48.82 |
| 2012-09-30 | 406.90 | 80.00 | 44.17 |
- Tredegar's level of debt (29.5%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (32.2% vs 29.5% today).
- Debt is well covered by operating cash flow (85.4%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 11.9x coverage).
Financial health checks
We assess Tredegar's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Tredegar has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
TG Dividends
What is Tredegar's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Tredegar
shares you are expected to receive
$53
in your first year as a dividend.
Dividend Amount
- Tredegar's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
- Tredegar's dividend is below the markets top 25% of dividend payers in United States of America (3.76%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
| United States of America Chemicals Industry Average Dividend Yield | Market Cap Weighted Average of 56 Stocks | 2.2% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2016 Stocks | 2.4% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.8% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-05-02 | 0.440 | 2.668 |
| 2019-02-22 | 0.440 | 2.521 |
| 2018-08-02 | 0.440 | 2.385 |
| 2018-05-02 | 0.440 | 1.899 |
| 2018-02-20 | 0.440 | 2.496 |
| 2017-11-01 | 0.440 | 2.339 |
| 2017-08-02 | 0.440 | 2.519 |
| 2017-05-17 | 0.440 | 2.819 |
| 2017-02-21 | 0.440 | 2.547 |
| 2016-11-02 | 0.440 | 1.952 |
| 2016-08-03 | 0.440 | 2.407 |
| 2016-05-04 | 0.440 | 2.653 |
| 2016-02-26 | 0.440 | 2.813 |
| 2015-11-04 | 0.440 | 3.248 |
| 2015-08-06 | 0.440 | 3.093 |
| 2015-06-04 | 0.440 | 2.080 |
| 2015-02-27 | 0.360 | 1.783 |
| 2014-11-07 | 0.360 | 1.750 |
| 2014-08-07 | 0.360 | 1.885 |
| 2014-02-27 | 0.280 | 1.264 |
| 2013-11-06 | 0.280 | 1.108 |
| 2013-07-31 | 0.280 | 1.077 |
| 2013-05-22 | 0.280 | 1.046 |
| 2013-02-28 | 0.280 | 1.017 |
| 2012-11-07 | 0.240 | 1.163 |
| 2012-08-02 | 0.240 | 1.450 |
| 2012-05-16 | 0.180 | 1.272 |
| 2012-02-29 | 0.180 | 0.995 |
| 2011-11-03 | 0.180 | 0.800 |
| 2011-08-09 | 0.180 | 1.115 |
| 2011-05-24 | 0.180 | 0.982 |
| 2011-03-03 | 0.180 | 0.884 |
| 2010-10-19 | 0.160 | 0.830 |
| 2010-08-11 | 0.160 | 0.881 |
| 2010-05-18 | 0.160 | 0.951 |
| 2010-03-03 | 0.160 | 0.929 |
| 2009-11-03 | 0.160 | 1.036 |
| 2009-08-11 | 0.160 | 1.075 |
| 2009-05-19 | 0.160 | 1.139 |
| 2009-03-05 | 0.160 | 0.961 |
| 2008-10-30 | 0.160 | 0.991 |
| 2008-08-14 | 0.160 | 0.985 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Tredegar's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are covered by earnings (1.8x coverage).
- Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
Income/ dividend checks
We assess Tredegar's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Tredegar afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Tredegar has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
TG Management
CEO
| COMPENSATION | $92,618 |
| AGE | 60 |
| TENURE AS CEO | 0.3 years |
CEO Bio
Mr. John M. Steitz has been the Chief Executive Officer and President of Tredegar Corporation since March 19, 2019. He was Chief Executive Officer of Additives at SI Group, Inc. since December 2018 until February 2019. Mr. Steitz has been the President and Chief Executive Officer of Addivant USA, LLC since March 17, 2015. Mr. Steitz has been President and Chief Operating Officer at PQ Holdings Inc. since December 2013 and October 2013 respectively. Mr. Steitz has 30 years of experience in business management and administration activities. He served as the Chief Executive Officer and President of Avantor Performance Materials Inc. since August 20, 2012. He served as President and Chief Operating Officer of PQ Corporation since October 1, 2013 until March 2015. He served as the President and Chief Executive Officer of Avantor Materials, Inc. He served as the President of Albemarle Corporation from March 1, 2012 to August 31, 2012. He served as the Chief Operating Officer and Executive Vice President of Albemarle Corporation from April 11, 2007 to August 31, 2012. He served as Senior Vice President of Global Business Operations of Albemarle Corporation from January 1, 2004 to April 11, 2007. He joined Albemarle Corporation in July 2000 and has served in various roles of increasing responsibility during his tenure with Albemarle Corporation. He served as the President and Chief Executive Officer for the global Specialty Chemicals Business of Avantor Materials, LLC. He has been a highly successful business leader and has a unique and extensive chemical industry experience. He served as Senior Vice President of Business Operations at Albemarle Corporation from January 1, 2004 to April 11, 2007. He began his career with Albemarle Corporation in 2001 as Vice President of Fine Chemicals in the Baton Rouge office from August 1, 2000 to October 1, 2002. From October 1, 2002 to January 2004, he served as Vice President of Business Operations at Albemarle Corporation. He started his career at Mallinckrodt Inc. He served as Business Director, Vice President and General Manager of Pharmaceutical Chemicals at Mallinckrodt, Inc., a business unit of Tyco Healthcare. Mr. Steitz has been a Director of Tredegar Corporation since February 21, 2017. He has been an Independent Director of Innophos Holdings Inc since February 11, 2009. He has been a Director of Innophos, Inc. since February 11, 2009. He serves as a Director of Mary Bird Perkins Cancer Center Inc. He completed the Executive Program at both Stanford University and a similar Executive Program focused on Corporate Governance at the Wharton School at the University of Pennsylvania. Mr. Steitz holds a B.S. degree in Chemical Engineering from the University of Missouri and his M.B.A. from the Southern Illinois University.
CEO Compensation
- John's compensation has been consistent with company performance over the past year, both up more than 20%.
- John's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Tredegar management team in years:
- The tenure for the Tredegar management team is about average.
Management Team
John Steitz
President
$93K
60
0.3 yrs
D. Edwards
VP & CFO
$1M
60
4 yrs
Mike Schewel
VP, General Counsel & Corporate Secretary
$1M
65
3.2 yrs
Frasier Brickhouse
Corporate Treasurer & Controller
$296K
82
J. Prince
President of Personal Care
Bapi DasGupta
President of Surface Protection
3.9 yrs
Jose Silveira
President of Flexible Packaging Films
3.9 yrs
W. Hamilton
President of Bonnell Aluminum
6.1 yrs
Jennifer Aspell
President of Bright View Technologies
3.9 yrs
Board of Directors Tenure
Average tenure and age of the Tredegar board of directors in years:
- The tenure for the Tredegar board of directors is about average.
Board of Directors
John Gottwald
Chairman
$3M
64
0.2 yrs
John Steitz
President
$93K
60
2.4 yrs
George Freeman
Independent Director
$86K
56
8.2 yrs
Tom Snead
Independent Director
$87K
65
6.5 yrs
Greg Pratt
Lead Director
$88K
70
2.2 yrs
William Gottwald
Director
$113K
71
22.5 yrs
Ken Newsome
Independent Director
$82K
59
5.4 yrs
Carl Tack
Independent Director
$85K
63
5.4 yrs
Anne Waleski
Independent Director
$24K
52
0.9 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by Tredegar individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 28. May 19 | Buy | Anne Waleski | Individual | 23. May 19 | 23. May 19 | 1,000 | $15.83 | $15,827 | ||
| 17. May 19 | Sell | GAMCO Investors, Inc. | Company | 18. Mar 19 | 16. May 19 | -195,673 | $18.94 | $-588,261 | ||
| 17. May 19 | Buy | GAMCO Investors, Inc. | Company | 16. Apr 19 | 16. May 19 | 409 | $18.14 | $5,610 | ||
| 14. Nov 18 | Buy | Michael Schewel | Individual | 13. Nov 18 | 13. Nov 18 | 5,000 | $15.95 | $79,750 | ||
| 22. Oct 18 | Sell | GAMCO Investors, Inc. | Company | 23. Aug 18 | 19. Oct 18 | -164,276 | $23.06 | $-3,788,829 | ||
Management checks
We assess Tredegar's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Tredegar has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
TG News
Simply Wall St News
Does Tredegar (NYSE:TG) Have A Healthy Balance Sheet?
The first step when considering a company's debt levels is to consider its cash and debt together. … NYSE:TG Historical Debt, July 12th 2019 How Healthy Is Tredegar's Balance Sheet? … Because it carries more debt than cash, we think it's worth watching Tredegar's balance sheet over time.
Simply Wall St - – Full articleHere's How We Evaluate Tredegar Corporation's (NYSE:TG) Dividend
Of the free cash flow it generated last year, Tredegar paid out 32% as dividends, suggesting the dividend is affordable. … It's positive to see that Tredegar's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. … Conclusion To summarise, shareholders should always check that Tredegar's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend.
Simply Wall St - – Full articleShould Tredegar Corporation (NYSE:TG) Focus On Improving This Fundamental Metric?
The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Tredegar: 7.1% = US$26m ÷ US$373m (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … The Importance Of Debt To Return On Equity Companies usually need to invest money to grow their profits. … Combining Tredegar's Debt And Its 7.1% Return On Equity Although Tredegar does use debt, its debt to equity ratio of 0.30 is still low.
Simply Wall St - – Full articleTredegar Corporation (NYSE:TG): What Does Its Beta Value Mean For Your Portfolio?
If you're interested in Tredegar Corporation (NYSE:TG), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … While history does not always repeat, this may indicate that the stock price will continue to be exposed to market risk, albeit not overly so.
Simply Wall St - – Full articleWhy Tredegar Corporation's (NYSE:TG) High P/E Ratio Isn't Necessarily A Bad Thing
Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. … We'll look at Tredegar Corporation's (NYSE:TG) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleWho Has Been Buying Tredegar Corporation (NYSE:TG) Shares?
So we'll take a look at whether insiders have been buying or selling shares in Tredegar Corporation (NYSE:TG). … That means that an insider was happy to buy shares at around the current price of US$18.09. … Happily, the Tredegar insider decided to buy shares at close to current prices
Simply Wall St - – Full articleTredegar Corporation (NYSE:TG): Time For A Financial Health Check
While small-cap stocks, such as Tredegar Corporation (NYSE:TG) with its market cap of US$532m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Understanding the company's financial health becomes. … The following basic checks can help you get a picture of the company's balance sheet strength.
Simply Wall St - – Full articleImagine Owning Tredegar (NYSE:TG) And Wondering If The 28% Share Price Slide Is Justified
While not a mind-blowing move, it is good to see that the Tredegar Corporation (NYSE:TG) share price has gained 11% in the last three months. … While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. … In contrast to the share price, revenue has actually increased by 0.2% a year in the five year period.
Simply Wall St - – Full articleWhat Did Tredegar Corporation's (NYSE:TG) CEO Take Home Last Year?
John Gottwald has been the CEO of Tredegar Corporation (NYSE:TG) since 2015. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does John Gottwald's Compensation Compare With Similar Sized Companies?
Simply Wall St - – Full articleIs Tredegar Corporation (NYSE:TG) A Volatile Stock?
Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful.
Simply Wall St - – Full articleTG Company Info
Description
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. This segment also provides thin-gauge films for bathroom tissue and paper towels; polypropylene films for industrial applications, such as tape and automotive protection; single- and multi-layer surface protection films for protecting components of flat panel displays used in televisions, monitors, notebooks, smart phones, tablets, e-readers, and digital signage under the UltraMask, ForceField, ForceField PEARL, and Pearl A brands; and specialty film-based components for a range of LED based applications. The Flexible Packaging Films segment offers polyester-based films for food packaging and industrial applications under the Terphane and Sealphane brands. The Aluminum Extrusions segment produces soft-alloy and medium-strength aluminum extrusions primarily for building and construction, automotive, consumer durables, machinery and equipment, electrical, and distribution markets; and manufactures mill, anodized, and painted and fabricated aluminum extrusions to fabricators and distributors. Tredegar Corporation was founded in 1988 and is headquartered in Richmond, Virginia.
Details
| Name: | Tredegar Corporation |
| TG | |
| Exchange: | NYSE |
| Founded: | 1988 |
| $549,902,552 | |
| 33,106,716 | |
| Website: | http://www.tredegar.com |
| Address: |
Tredegar Corporation 1100 Boulders Parkway, Richmond, Virginia, 23225, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | TG | Common Stock | New York Stock Exchange | US | USD | 05. Jul 1989 | |
| DB | T70 | Common Stock | Deutsche Boerse AG | DE | EUR | 05. Jul 1989 |
Number of employees
Current staff
Industry
| Commodity Chemicals | |
| Materials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/07/20 23:56 |
| End of day share price update: | 2019/07/19 00:00 |
| Last estimates confirmation: | 2017/02/22 |
| Last earnings filing: | 2019/05/09 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
