Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells $18,800.00 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 2,350 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $8.00, for a total value of $18,800.00. Following the sale, the insider directly owned 450,873 shares of the company’s stock, valued at $3,606,984. This represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Tredegar Stock Performance

Shares of TG opened at $8.17 on Friday. The firm has a market capitalization of $286.23 million, a P/E ratio of 9.73 and a beta of 0.74. The stock has a 50 day moving average price of $8.52 and a two-hundred day moving average price of $8.26. Tredegar Corporation has a 52 week low of $6.25 and a 52 week high of $10.53.

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

Hedge Funds Weigh In On Tredegar

Institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. grew its holdings 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 valued at $27,000 after acquiring an additional 2,841 shares in the last quarter. Torren Management LLC purchased a new position in Tredegar in the fourth quarter valued at approximately $32,000. BNP Paribas Financial Markets lifted its stake 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 valued at $42,000 after purchasing an additional 1,830 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in 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 valued at $61,000 after purchasing an additional 4,771 shares during the last quarter. Finally, Heron Bay Capital Management purchased a new position in Tredegar in the fourth quarter valued at approximately $76,000. 79.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings raised Tredegar from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, 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.