Tredegar (NYSE:TG) Major Shareholder William Gottwald Sells 7,384 Shares

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 7,384 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $8.01, for a total value of $59,145.84. Following the completion of the sale, the insider owned 482,468 shares in the company, valued at $3,864,568.68. The trade was a 1.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Tredegar Stock Down 6.4%

Shares of TG opened at $7.46 on Tuesday. Tredegar Corporation has a 52 week low of $6.25 and a 52 week high of $10.53. The company has a market capitalization of $261.18 million, a price-to-earnings ratio of 8.88 and a beta of 0.82. The stock’s 50-day moving average price is $8.52 and its 200-day moving average price is $8.22.

Tredegar (NYSE:TG) last issued its earnings results on Friday, May 8th. The basic materials company reported $0.15 EPS for the quarter. Tredegar had a return on equity of 12.91% and a net margin of 3.89%.The firm had revenue of $186.49 million for the quarter.

Hedge Funds Weigh In On Tredegar

A number of large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its holdings in shares of Tredegar by 531.0% during the third 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 last quarter. Torren Management LLC acquired a new position in shares of Tredegar during the fourth quarter valued at approximately $32,000. BNP Paribas Financial Markets raised its holdings 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 valued at $42,000 after acquiring an additional 1,830 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Tredegar by 225.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 4,771 shares during the last quarter. Finally, Heron Bay Capital Management acquired a new position in shares of Tredegar during the fourth quarter valued at approximately $76,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Tredegar from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

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.