Tredegar (NYSE:TG) Major Shareholder John Gottwald Sells 35,507 Shares of Company Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 35,507 shares of Tredegar stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $8.00, for a total transaction of $284,056.00. Following the sale, the insider directly owned 325,620 shares in the company, valued at $2,604,960. The trade was a 9.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 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 Wednesday. Tredegar Corporation has a 1 year low of $6.25 and a 1 year high of $10.53. The company’s 50-day moving average is $7.46 and its 200 day moving average is $7.91. The stock has a market capitalization of $280.60 million, a P/E ratio of 8.36 and a beta of 0.75.

Tredegar (NYSE:TG) last released its quarterly 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 company had revenue of $216.24 million during the quarter. During the same period in the previous year, the company earned $0.05 earnings per share.

Hedge Funds Weigh In On Tredegar

A number of institutional investors have recently added to or reduced their stakes in TG. BlackRock Inc. purchased a new stake in shares of Tredegar in the 2nd quarter worth about $19,151,000. Gabelli Funds LLC increased its stake in shares of Tredegar by 1.9% in the 1st quarter. Gabelli Funds LLC now owns 1,237,000 shares of the basic materials company’s stock worth $9,834,000 after acquiring an additional 23,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tredegar by 4.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,127,926 shares of the basic materials company’s stock worth $8,966,000 after acquiring an additional 51,438 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Tredegar by 33.2% in the 1st quarter. Renaissance Technologies LLC now owns 195,400 shares of the basic materials company’s stock worth $1,553,000 after acquiring an additional 48,708 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Tredegar during the 2nd quarter valued at about $903,000. Institutional investors own 79.24% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Tredegar Company Profile

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.