Hotchkis & Wiley Reports 1.5M Share Stake in Tredegar Corp
Ticker: TG · Form: SC 13G · Filed: Feb 13, 2024 · CIK: 850429
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, insider-buy, passive-investment
TL;DR
**Hotchkis & Wiley just disclosed a big 1.5M share stake in Tredegar (TG).**
AI Summary
Hotchkis & Wiley Capital Management LLC, a Delaware-based investment firm, reported owning 1,517,941 shares of Tredegar Corporation (NYSE: TG) common stock as of December 31, 2023. This represents a significant stake, giving them sole voting and dispositive power over these shares. This matters to investors because a large institutional holder like Hotchkis & Wiley taking a substantial position can signal confidence in Tredegar's future prospects, potentially influencing other investors' perceptions and the stock's performance.
Why It Matters
This filing reveals a major institutional investor's significant ownership in Tredegar, which can be seen as a vote of confidence and may attract further investor interest.
Risk Assessment
Risk Level: low — This filing indicates an institutional investment, which generally adds stability and confidence rather than introducing new risks.
Analyst Insight
A smart investor would research Hotchkis & Wiley's investment thesis for Tredegar Corporation and consider if their own investment goals align, potentially seeing this as a positive signal for Tredegar's stock.
Key Numbers
- 1,517,941 — Shares Beneficially Owned (Represents the total number of Tredegar Corporation common shares Hotchkis & Wiley Capital Management LLC has sole voting and dispositive power over.)
Key Players & Entities
- Hotchkis & Wiley Capital Management LLC (company) — the reporting person and institutional investor
- Tredegar Corporation (company) — the subject company whose shares are being reported
- 1,517,941 (dollar_amount) — number of shares beneficially owned by Hotchkis & Wiley
- December 31, 2023 (date) — the date of the event requiring the filing
- Delaware (company) — place of organization for Hotchkis & Wiley Capital Management, LLC
Forward-Looking Statements
- Other institutional investors may take notice of Hotchkis & Wiley's significant stake in Tredegar Corporation. (Tredegar Corporation) — medium confidence, target: Q2 2024
- Hotchkis & Wiley Capital Management LLC will maintain or increase its stake in Tredegar Corporation. (Hotchkis & Wiley Capital Management LLC) — medium confidence, target: Q4 2024
FAQ
Who filed this SC 13G statement?
Hotchkis & Wiley Capital Management, LLC filed this SC 13G statement, as indicated in the 'FILED BY' section and 'NAME OF REPORTING PERSONS' on page 2.
What is the name of the issuer whose securities are being reported?
The issuer is Tredegar Corporation, as stated under 'Name of Issuer' on the Schedule 13G form.
How many shares of Tredegar Corporation does Hotchkis & Wiley Capital Management, LLC beneficially own with sole voting power?
Hotchkis & Wiley Capital Management, LLC beneficially owns 1,517,941 shares of Tredegar Corporation with sole voting power, as reported in Item 5 on page 2 of the filing.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified on the Schedule 13G cover page.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the 'x' next to 'Rule 13d-1(b)' on the cover page.
Filing Stats: 994 words · 4 min read · ~3 pages · Grade level 9.3 · Accepted 2024-02-13 16:06:44
Filing Documents
- hotchkiswiley-tg123123.htm (SC 13G) — 52KB
- 0001172661-24-000835.txt ( ) — 54KB
(a)Name of Issuer
Item 1. (a)Name of Issuer Tredegar Corporation (b)Address of Issuer’s Principal Executive Offices 1100 Boulders Parkway Richmond, Virginia 23225
(a)Name of Person Filing
Item 2. (a)Name of Person Filing Hotchkis and Wiley Capital Management, LLC (b)Address of Principal Business Office, or, if none, Residence 601 S. Figueroa Street, 39th Fl Los Angeles, CA 90017 (c)Citizenship Delaware (d)Title of Class of Securities Common stock, no par value (e) CUSIP No.: 894650100 CUSIP No. 894650100 SCHEDULE 13G Page 4 of 6 Pages
If
Item 3.If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) o Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) x An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) A group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: CUSIP No. 894650100 SCHEDULE 13G Page 5 of 6 Pages Item 4.Ownership Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 1,749,254 (b) Percent of class: 5.08% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 1,517,941 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 1,749,254 (iv) Shared power to dispose or to direct the disposition of: 0 Note that certain of HWCM's clients have retained voting power over the Common Shares that they beneficially own. Accordingly, HWCM has