Carl Tack III Sells 5,435 Shares of Tredegar (NYSE:TG) Stock

Tredegar Corporation (NYSE:TG) Director Carl Tack III sold 5,435 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $7.81, for a total transaction of $42,447.35. Following the completion of the sale, the director owned 73,421 shares in the company, valued at approximately $573,418.01. The trade was a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Tredegar Trading Up 4.1%

TG opened at $7.97 on Friday. The company’s 50 day moving average is $8.47 and its 200-day moving average is $8.24. Tredegar Corporation has a 1-year low of $6.25 and a 1-year high of $10.53. The company has a market cap of $279.14 million, a P/E ratio of 9.49 and a beta of 0.82.

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

Wall Street Analysts Forecast Growth

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 research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TG. Gamco Investors INC. ET AL raised its holdings in Tredegar by 5.2% in the 4th quarter. Gamco Investors INC. ET AL now owns 6,302,684 shares of the basic materials company’s stock valued at $45,253,000 after buying an additional 311,833 shares during the last quarter. Marshall Wace LLP bought a new position in Tredegar in the 4th quarter valued at approximately $1,427,000. Millennium Management LLC raised its holdings in Tredegar by 716.3% during the 4th quarter. Millennium Management LLC now owns 195,704 shares of the basic materials company’s stock worth $1,405,000 after purchasing an additional 171,729 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Tredegar by 34.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 598,785 shares of the basic materials company’s stock worth $4,299,000 after purchasing an additional 154,735 shares during the period. Finally, Jane Street Group LLC lifted its position in shares of Tredegar by 417.1% in the 4th quarter. Jane Street Group LLC now owns 162,735 shares of the basic materials company’s stock worth $1,168,000 after purchasing an additional 131,264 shares during the period. Institutional investors own 79.24% of the company’s stock.

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.