Tredegar (NYSE:TG) Major Shareholder William Gottwald Sells 24,823 Shares

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 24,823 shares of the company’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $8.52, for a total value of $211,491.96. Following the transaction, the insider directly owned 640,992 shares in the company, valued at approximately $5,461,251.84. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Tredegar Price Performance

Shares of TG stock opened at $8.74 on Tuesday. Tredegar Corporation has a 1-year low of $6.25 and a 1-year high of $9.43. The stock’s fifty day moving average price is $7.74 and its 200 day moving average price is $7.84. The company has a market cap of $305.04 million, a price-to-earnings ratio of -5.53 and a beta of 0.67.

Tredegar (NYSE:TG) last released its quarterly earnings results on Friday, November 7th. The basic materials company reported $0.26 EPS for the quarter. Tredegar had a positive return on equity of 8.64% and a negative net margin of 7.75%.The company had revenue of $194.94 million during the quarter.

Institutional Trading of Tredegar

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of Tredegar by 0.3% in the second quarter. Geode Capital Management LLC now owns 589,275 shares of the basic materials company’s stock worth $5,187,000 after acquiring an additional 1,506 shares during the period. BNP Paribas Financial Markets grew its position in Tredegar by 53.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,273 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 1,830 shares during the period. Rhumbline Advisers grew its position in 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 purchasing an additional 2,021 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Tredegar by 531.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,376 shares of the basic materials company’s stock valued at $27,000 after buying an additional 2,841 shares during the last quarter. Finally, Bailard Inc. lifted its holdings in shares of Tredegar by 11.6% in the 3rd quarter. Bailard Inc. now owns 34,531 shares of the basic materials company’s stock valued at $277,000 after buying an additional 3,600 shares during the period. 79.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TG. Weiss Ratings restated 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 report on Saturday, November 15th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus 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.