Tredegar (NYSE:TG) Stock: Insider William Gottwald Sells 35,506 Shares

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 35,506 shares of the company’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $8.00, for a total value of $284,048.00. Following the completion of the sale, the insider owned 325,620 shares in the company, valued at $2,604,960. The trade was a 9.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Tredegar Stock Performance

NYSE:TG opened at $7.97 on Thursday. The firm has a market cap of $278.47 million, a P/E ratio of 8.30 and a beta of 0.75. The firm’s fifty day moving average is $7.46 and its 200-day moving average is $7.91. Tredegar Corporation has a 52 week low of $6.25 and a 52 week high of $10.53.

Tredegar (NYSE:TG) last issued its quarterly earnings results on Friday, August 7th. The basic materials company reported $0.18 earnings per share for the quarter. Tredegar had a return on equity of 14.52% and a net margin of 4.26%. The firm had revenue of $216.24 million during the quarter. During the same quarter in the previous year, the business posted $0.05 earnings per share.

Hedge Funds Weigh In On Tredegar

Institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Tredegar during the second quarter valued at approximately $19,151,000. Gabelli Funds LLC raised its position in Tredegar by 1.9% in the first quarter. Gabelli Funds LLC now owns 1,237,000 shares of the basic materials company’s stock worth $9,834,000 after acquiring an additional 23,000 shares during the period. Dimensional Fund Advisors LP boosted its stake in Tredegar by 4.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,127,926 shares of the basic materials company’s stock valued at $8,966,000 after acquiring an additional 51,438 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Tredegar by 33.2% in the first quarter. Renaissance Technologies LLC now owns 195,400 shares of the basic materials company’s stock valued at $1,553,000 after acquiring an additional 48,708 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Tredegar during the 2nd quarter valued at approximately $903,000. 79.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Tredegar from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Tredegar Company Profile

Tredegar Corporation (NYSE: TG) is a manufacturer of specialty plastic films. Its products include polyethylene films used in personal care, household, medical, industrial and other consumer applications. The company’s films are incorporated into products such as diapers, hygiene products, packaging and protective materials.

Tredegar has also operated flexible packaging film businesses, producing high-performance films for food, beverage, pharmaceutical and other packaged goods applications.