Insider Selling: Tredegar Corporation (TG) Major Shareholder Sells $27,375.00 in Stock
Tredegar Corporation (NYSE:TG) major shareholder Gamco Investors, Inc. Et Al sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $18.25, for a total value of $27,375.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Gamco Investors, Inc. Et Al also recently made the following trade(s):
- On Thursday, August 24th, Gamco Investors, Inc. Et Al sold 700 shares of Tredegar Corporation stock. The shares were sold at an average price of $16.30, for a total value of $11,410.00.
Shares of Tredegar Corporation (NYSE:TG) traded down 2.09% during midday trading on Friday, reaching $18.70. The company had a trading volume of 6,460 shares. The firm’s 50 day moving average price is $16.94 and its 200-day moving average price is $16.37. Tredegar Corporation has a 1-year low of $14.65 and a 1-year high of $25.60. The stock has a market capitalization of $616.35 million, a price-to-earnings ratio of 9.99 and a beta of 1.73.
The company also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 15th were issued a dividend of $0.11 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.44 annualized dividend and a yield of 2.30%. Tredegar Corporation’s payout ratio is currently 23.53%.
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TG has been the topic of several research analyst reports. TheStreet raised Tredegar Corporation from a “c+” rating to a “b-” rating in a research note on Friday, August 25th. BidaskClub raised Tredegar Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL increased its holdings in Tredegar Corporation by 6.3% during the 2nd quarter. Gamco Investors INC. ET AL now owns 4,851,213 shares of the basic materials company’s stock worth $73,981,000 after purchasing an additional 286,897 shares during the period. Vanguard Group Inc. increased its holdings in Tredegar Corporation by 7.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,622,458 shares of the basic materials company’s stock worth $39,992,000 after purchasing an additional 177,637 shares during the period. State Street Corp increased its holdings in Tredegar Corporation by 2.4% during the 2nd quarter. State Street Corp now owns 593,069 shares of the basic materials company’s stock worth $9,041,000 after purchasing an additional 14,011 shares during the period. Teton Advisors Inc. increased its holdings in Tredegar Corporation by 32.8% during the 2nd quarter. Teton Advisors Inc. now owns 507,600 shares of the basic materials company’s stock worth $7,741,000 after purchasing an additional 125,340 shares during the period. Finally, Northern Trust Corp increased its holdings in Tredegar Corporation by 6.7% during the 2nd quarter. Northern Trust Corp now owns 353,174 shares of the basic materials company’s stock worth $5,386,000 after purchasing an additional 22,028 shares during the period. Institutional investors own 62.67% of the company’s stock.
About Tredegar Corporation
Tredegar Corporation is engaged in the manufacture of polyethylene plastic films, polyester films and aluminum extrusions. The Company’s segments are PE Films, Flexible Packaging Films and Aluminum Extrusions. The PE Films segment manufactures plastic films, elastics and laminate materials utilized in personal care materials, surface protection films and specialty and optical lighting applications.
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