Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells 3,419 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 3,419 shares of Tredegar stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $8.87, for a total transaction of $30,326.53. Following the completion of the sale, the insider owned 583,968 shares in the company, valued at $5,179,796.16. The trade was a 0.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Tredegar Trading Up 0.6%

Shares of Tredegar stock traded up $0.05 during trading hours on Thursday, reaching $8.76. 110,140 shares of the company’s stock were exchanged, compared to its average volume of 169,801. The stock has a market cap of $305.81 million, a P/E ratio of -5.54 and a beta of 0.65. The company has a 50 day moving average of $8.11 and a two-hundred day moving average of $7.85. Tredegar Corporation has a fifty-two week low of $6.25 and a fifty-two week high of $9.43.

Wall Street Analyst Weigh In

TG has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Tredegar in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of Tredegar from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Tredegar has a consensus rating of “Sell”.

Institutional Trading of Tredegar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its holdings in Tredegar by 531.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,376 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 2,841 shares during the period. Torren Management LLC acquired a new position in shares of Tredegar in the fourth quarter valued at approximately $32,000. BNP Paribas Financial Markets increased its stake in shares of Tredegar by 53.2% during 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 period. Tower Research Capital LLC TRC lifted its holdings in Tredegar by 225.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 4,771 shares during the last quarter. Finally, Heron Bay Capital Management bought a new stake in Tredegar in the 4th quarter valued at $76,000. Institutional investors own 79.24% of the company’s stock.

About Tredegar

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.