Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells $27,810.72 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 3,472 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $8.01, for a total transaction of $27,810.72. Following the completion of the sale, the insider directly owned 366,238 shares of the company’s stock, valued at $2,933,566.38. The trade was a 0.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Tredegar Trading Up 1.4%

NYSE:TG opened at $7.97 on Friday. The company has a 50-day moving average of $7.77 and a 200-day moving average of $8.25. The firm has a market cap of $278.47 million, a price-to-earnings ratio of 8.30 and a beta of 0.76. Tredegar Corporation has a twelve month low of $6.25 and a twelve month high of $10.53.

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

Institutional Trading of Tredegar

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Tredegar in the second quarter worth about $19,151,000. Gamco Investors INC. ET AL raised its holdings in shares of Tredegar by 5.2% during the fourth 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 acquiring an additional 311,833 shares during the period. Marshall Wace LLP purchased a new stake in shares of Tredegar in the 4th quarter valued at approximately $1,427,000. Millennium Management LLC lifted its position in shares of Tredegar by 716.3% in the 4th quarter. Millennium Management LLC now owns 195,704 shares of the basic materials company’s stock valued at $1,405,000 after acquiring an additional 171,729 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in 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. Institutional investors and hedge funds own 79.24% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Tredegar in a research report on Friday, August 7th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Tredegar presently has an average rating of “Hold”.

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.