Tredegar (NYSE:TG) Major Shareholder Sells $211,500.48 in Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 24,824 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $8.52, for a total value of $211,500.48. Following the transaction, the insider owned 640,992 shares of the company’s stock, valued at approximately $5,461,251.84. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Tredegar Price Performance

Shares of Tredegar stock traded up $0.17 during midday trading on Monday, hitting $8.73. The company had a trading volume of 16,883 shares, compared to its average volume of 171,450. Tredegar Corporation has a 1-year low of $6.25 and a 1-year high of $9.43. The business’s 50 day simple moving average is $7.74 and its two-hundred day simple moving average is $7.84. The stock has a market cap of $304.59 million, a PE ratio of -5.52 and a beta of 0.67.

Tredegar (NYSE:TG) last issued its quarterly earnings results on Friday, November 7th. The basic materials company reported $0.26 earnings per share for the quarter. Tredegar had a negative net margin of 7.75% and a positive return on equity of 8.64%. The firm had revenue of $194.94 million during the quarter.

Analyst Upgrades and Downgrades

TG has been the subject of several recent research reports. Wall Street Zen raised Tredegar from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Tredegar in a research note on Wednesday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Trading of Tredegar

Several institutional investors have recently bought and sold shares of TG. AQR Capital Management LLC raised its stake in Tredegar by 31.4% during the first quarter. AQR Capital Management LLC now owns 17,158 shares of the basic materials company’s stock worth $132,000 after acquiring an additional 4,097 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Tredegar during the 1st quarter worth about $144,000. Janney Montgomery Scott LLC acquired a new stake in shares of Tredegar during the 2nd quarter worth about $413,000. Ritholtz Wealth Management lifted its holdings in Tredegar by 112.9% during the 2nd quarter. Ritholtz Wealth Management now owns 83,411 shares of the basic materials company’s stock valued at $734,000 after purchasing an additional 44,224 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Tredegar by 0.3% in the second quarter. Geode Capital Management LLC now owns 589,275 shares of the basic materials company’s stock valued at $5,187,000 after buying an additional 1,506 shares in the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

Tredegar Company Profile

Tredegar Corporation is a diversified manufacturer specializing in high-performance plastic films and aluminum extrusions. Headquartered in Richmond, Virginia, the company operates through two primary segments—Films and Manufactured Products—serving a broad range of industries that include flexible packaging, medical devices, electronics, building and construction. Tredegar’s operations focus on delivering tailored solutions that meet demanding specifications for barrier properties, film strength and extrusion tolerances.

The Films segment produces a variety of polyolefin films, including cast and blown polyethylene, BOPP (biaxially oriented polypropylene), barrier films and specialty medical-grade films.