Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells $37,955.34 in Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 4,551 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $8.34, for a total value of $37,955.34. Following the completion of the transaction, the insider directly owned 489,852 shares in the company, valued at $4,085,365.68. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Tredegar Trading Up 5.2%

Tredegar stock opened at $7.65 on Thursday. The firm has a market cap of $267.90 million, a price-to-earnings ratio of 9.11 and a beta of 0.82. The stock has a fifty day simple moving average of $8.48 and a two-hundred day simple moving average of $8.23. Tredegar Corporation has a 12 month low of $6.25 and a 12 month high of $10.53.

Tredegar (NYSE:TG) last announced its quarterly earnings results on Friday, May 8th. The basic materials company reported $0.15 earnings per share (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.

Institutional Investors Weigh In On Tredegar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in Tredegar by 531.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,376 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 2,841 shares during the period. Torren Management LLC bought a new position in shares of Tredegar in the fourth quarter worth approximately $32,000. BNP Paribas Financial Markets increased its stake in shares of 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 in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Tredegar by 225.3% in the second 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 in the last quarter. Finally, Heron Bay Capital Management bought a new stake in shares of Tredegar during the 4th quarter valued at $76,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.