Tredegar (NYSE:TG) Major Shareholder Sells $100,563.60 in Stock

Tredegar Corporation (NYSE:TG) major shareholder James Gottwald sold 11,112 shares of Tredegar stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $9.05, for a total value of $100,563.60. Following the completion of the transaction, the insider directly owned 588,253 shares of the company’s stock, valued at approximately $5,323,689.65. This trade represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Tredegar Price Performance

Shares of Tredegar stock traded down $0.09 on Tuesday, hitting $8.60. 36,679 shares of the company’s stock traded hands, compared to its average volume of 168,843. The company has a fifty day moving average of $8.06 and a two-hundred day moving average of $7.84. Tredegar Corporation has a one year low of $6.25 and a one year high of $9.43. The company has a market capitalization of $300.37 million, a price-to-earnings ratio of -5.45 and a beta of 0.65.

Institutional Investors Weigh In On Tredegar

Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its stake in shares of Tredegar by 531.0% in the third quarter. Russell Investments Group Ltd. now owns 3,376 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 2,841 shares during the last quarter. Torren Management LLC bought a new stake in Tredegar during the fourth quarter worth $32,000. BNP Paribas Financial Markets boosted its position in Tredegar by 53.2% in the third quarter. BNP Paribas Financial Markets now owns 5,273 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 1,830 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Tredegar by 225.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 4,771 shares during the period. Finally, Heron Bay Capital Management bought a new position in Tredegar in the 4th quarter valued at $76,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Tredegar in a research note on Wednesday, January 21st. Wall Street Zen upgraded Tredegar from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

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.