Tredegar (NYSE:TG) Major Shareholder Sells $128,856.87 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 16,087 shares of Tredegar stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $8.01, for a total value of $128,856.87. Following the completion of the sale, the insider directly owned 759,810 shares in the company, valued at $6,086,078.10. This represents a 2.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Tredegar Stock Performance

Shares of Tredegar stock opened at $7.72 on Friday. Tredegar Corporation has a one year low of $6.45 and a one year high of $9.43. The company has a market cap of $269.18 million, a price-to-earnings ratio of -4.08 and a beta of 0.78. The business’s 50 day moving average price is $7.93 and its 200 day moving average price is $8.12.

Tredegar (NYSE:TG) last posted its earnings results on Friday, August 8th. The basic materials company reported $0.05 EPS for the quarter. Tredegar had a positive return on equity of 4.17% and a negative net margin of 9.51%.The company had revenue of $180.50 million for the quarter.

Institutional Investors Weigh In On Tredegar

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in 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 valued at $61,000 after buying an additional 4,771 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Tredegar by 1,131.8% during the 1st quarter. GAMMA Investing LLC now owns 10,495 shares of the basic materials company’s stock worth $81,000 after purchasing an additional 9,643 shares during the period. MetLife Investment Management LLC raised its position in shares of Tredegar by 25.9% in the 1st quarter. MetLife Investment Management LLC now owns 15,268 shares of the basic materials company’s stock worth $118,000 after buying an additional 3,145 shares during the period. Osaic Holdings Inc. raised its position in shares of Tredegar by 130.0% in the 2nd quarter. Osaic Holdings Inc. now owns 13,988 shares of the basic materials company’s stock worth $123,000 after buying an additional 7,907 shares during the period. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of Tredegar in the 1st quarter worth $131,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tredegar in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Tredegar Company Profile

Tredegar Corporation manufactures and sells aluminum extrusions, polyethylene (PE) films, and plastic and polyester films in the United States and internationally. It operates through three segments: Aluminum Extrusions, PE Films, and Flexible Packaging Films. The Aluminum Extrusions segment produces soft and medium strength alloyed aluminum extrusions, custom fabricated and finished aluminum extrusions for the building and construction, automotive and transportation, consumer durables, machinery and equipment, electrical and renewable energy, and distribution markets; and manufactures mill, anodized, and painted and alloyed aluminum extrusions to fabricators and distributors.