Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells 10,351 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 10,351 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $8.01, for a total value of $82,911.51. Following the completion of the sale, the insider directly owned 461,832 shares in the company, valued at approximately $3,699,274.32. This represents a 2.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Tredegar Stock Up 0.1%

Shares of TG stock traded up $0.01 during trading hours on Thursday, reaching $8.01. The company’s stock had a trading volume of 47,427 shares, compared to its average volume of 170,833. Tredegar Corporation has a fifty-two week low of $6.25 and a fifty-two week high of $10.53. The company has a market capitalization of $280.34 million, a price-to-earnings ratio of 9.53 and a beta of 0.82. The firm’s 50 day simple moving average is $8.47 and its 200-day simple moving average is $8.28.

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

Institutional Trading of Tredegar

Several large investors have recently made changes to their positions in TG. AQR Capital Management LLC grew its stake in shares of Tredegar by 31.4% in the 1st quarter. AQR Capital Management LLC now owns 17,158 shares of the basic materials company’s stock valued at $132,000 after buying an additional 4,097 shares during the period. Jane Street Group LLC acquired a new position in Tredegar during the 1st quarter valued at about $144,000. Geode Capital Management LLC lifted its position in shares of Tredegar by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 589,275 shares of the basic materials company’s stock worth $5,187,000 after buying an additional 1,506 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Tredegar by 4.8% during the 2nd quarter. Rhumbline Advisers now owns 44,096 shares of the basic materials company’s stock worth $388,000 after buying an additional 2,021 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Tredegar by 225.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company’s stock worth $61,000 after buying an additional 4,771 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Tredegar from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Tredegar presently has a consensus rating of “Hold”.

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.