Tredegar (NYSE:TG) Major Shareholder Sells $258,804.12 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 28,788 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $8.99, for a total value of $258,804.12. Following the completion of the sale, the insider owned 541,445 shares of the company’s stock, valued at $4,867,590.55. The trade was a 5.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Tredegar Stock Performance

TG traded up $0.02 during trading on Thursday, hitting $9.04. 147,037 shares of the stock were exchanged, compared to its average volume of 165,446. The firm has a 50 day simple moving average of $8.23 and a 200 day simple moving average of $7.87. The firm has a market cap of $315.59 million, a price-to-earnings ratio of -5.72 and a beta of 0.65. Tredegar Corporation has a 1 year low of $6.25 and a 1 year high of $9.43.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Gate City Capital Management LLC boosted its stake in Tredegar by 113.5% in the second quarter. Gate City Capital Management LLC now owns 260,088 shares of the basic materials company’s stock valued at $2,289,000 after acquiring an additional 138,278 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of Tredegar by 1.9% during the second quarter. Gamco Investors INC. ET AL now owns 5,893,407 shares of the basic materials company’s stock worth $51,862,000 after purchasing an additional 107,627 shares in the last quarter. Bailard Inc. purchased a new stake in shares of Tredegar during the 2nd quarter valued at $272,000. HB Wealth Management LLC acquired a new stake in shares of Tredegar in the 3rd quarter worth $720,000. Finally, Prelude Capital Management LLC purchased a new position in Tredegar during the 3rd quarter worth $105,000. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TG. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tredegar in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Tredegar from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Tredegar has an average rating of “Sell”.

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.