Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells 12,008 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 12,008 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $8.99, for a total transaction of $107,951.92. Following the sale, the insider owned 529,438 shares in the company, valued at approximately $4,759,647.62. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Tredegar Price Performance

Shares of TG traded up $0.38 during midday trading on Monday, hitting $9.56. The stock had a trading volume of 173,848 shares, compared to its average volume of 165,489. The firm has a market cap of $333.78 million, a price-to-earnings ratio of -6.05 and a beta of 0.65. The company has a 50 day simple moving average of $8.29 and a two-hundred day simple moving average of $7.90. Tredegar Corporation has a twelve month low of $6.25 and a twelve month high of $9.60.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TG shares. Wall Street Zen raised shares of Tredegar from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tredegar in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Tredegar currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Tredegar

A number of institutional investors have recently added to or reduced their stakes in TG. Gamco Investors INC. ET AL lifted its stake in Tredegar by 5.2% in the fourth quarter. Gamco Investors INC. ET AL now owns 6,302,684 shares of the basic materials company’s stock valued at $45,253,000 after acquiring an additional 311,833 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Tredegar in the 4th quarter valued at about $1,427,000. Millennium Management LLC lifted its stake in Tredegar by 716.3% in the 4th quarter. Millennium Management LLC now owns 195,704 shares of the basic materials company’s stock valued at $1,405,000 after purchasing an additional 171,729 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Tredegar by 34.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 598,785 shares of the basic materials company’s stock valued at $4,299,000 after purchasing an additional 154,735 shares during the last quarter. Finally, Gate City Capital Management LLC grew its holdings in Tredegar by 113.5% during the second quarter. Gate City Capital Management LLC now owns 260,088 shares of the basic materials company’s stock worth $2,289,000 after purchasing an additional 138,278 shares during the period. 79.24% of the stock is currently owned by institutional investors and hedge funds.

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.