Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells $211,491.96 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 24,823 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $8.52, for a total value of $211,491.96. Following the completion of the sale, the insider directly owned 640,992 shares of the company’s stock, valued at $5,461,251.84. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Tredegar Price Performance

Shares of NYSE TG opened at $8.55 on Thursday. The stock has a market capitalization of $298.38 million, a PE ratio of -5.41 and a beta of 0.67. Tredegar Corporation has a one year low of $6.25 and a one year high of $9.43. The business’s fifty day moving average price is $7.77 and its 200-day moving average price is $7.84.

Tredegar (NYSE:TG) last announced its quarterly earnings data on Friday, November 7th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter. The business had revenue of $194.94 million for the quarter. Tredegar had a positive return on equity of 8.64% and a negative net margin of 7.75%.

Hedge Funds Weigh In On Tredegar

Several hedge funds have recently bought and sold shares of TG. Gate City Capital Management LLC grew its position in shares of Tredegar by 113.5% during the 2nd quarter. Gate City Capital Management LLC now owns 260,088 shares of the basic materials company’s stock valued at $2,289,000 after purchasing an additional 138,278 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Tredegar by 1.9% during the second quarter. Gamco Investors INC. ET AL now owns 5,893,407 shares of the basic materials company’s stock valued at $51,862,000 after buying an additional 107,627 shares during the period. Bailard Inc. bought a new stake in Tredegar during the second quarter valued at $272,000. HB Wealth Management LLC purchased a new position in Tredegar during the third quarter worth about $720,000. Finally, Janney Montgomery Scott LLC bought a new position in Tredegar in the 2nd quarter worth about $413,000. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on TG shares. Wall Street Zen upgraded shares of Tredegar from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tredegar in a report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Tredegar presently has an average rating of “Sell”.

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.