Tredegar (NYSE:TG) Major Shareholder Sells $284,056.00 in Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 35,507 shares of the business’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 $284,056.00. Following the completion of the transaction, the insider directly owned 325,620 shares of the company’s stock, valued at $2,604,960. The trade was a 9.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Tredegar Price Performance

Shares of NYSE TG opened at $8.03 on Friday. The stock has a market capitalization of $280.57 million, a price-to-earnings ratio of 8.36 and a beta of 0.75. Tredegar Corporation has a 12 month low of $6.25 and a 12 month high of $10.53. The firm’s 50 day simple moving average is $7.46 and its 200-day simple moving average is $7.91.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Tredegar from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Institutional Trading of Tredegar

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Corient Private Wealth LP purchased a new position in shares of Tredegar during the 2nd quarter valued at approximately $82,000. NewEdge Advisors LLC grew its stake in Tredegar by 36.9% in the 1st quarter. NewEdge Advisors LLC now owns 16,471 shares of the basic materials company’s stock valued at $131,000 after acquiring an additional 4,441 shares during the period. Ieq Capital LLC purchased a new stake in Tredegar in the 2nd quarter worth $152,000. Man Group plc purchased a new stake in Tredegar in the 2nd quarter worth $190,000. Finally, Deutsche Bank AG purchased a new stake in Tredegar in the 2nd quarter worth $205,000. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

About Tredegar

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.