John Gottwald Sells 16,086 Shares of Tredegar (NYSE:TG) Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 16,086 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $8.01, for a total transaction of $128,848.86. Following the sale, the insider directly owned 759,811 shares in the company, valued at $6,086,086.11. This trade represents a 2.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Tredegar Stock Performance

Shares of NYSE TG opened at $7.72 on Friday. The company’s fifty day moving average price is $7.93 and its 200 day moving average price is $8.12. Tredegar Corporation has a 1 year low of $6.45 and a 1 year high of $9.43. The company has a market capitalization of $269.20 million, a PE ratio of -4.08 and a beta of 0.78.

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

Institutional Investors Weigh In On Tredegar

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted 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 valued at $5,187,000 after purchasing an additional 1,506 shares during the period. Rhumbline Advisers boosted its stake in shares of Tredegar by 4.8% in the second quarter. Rhumbline Advisers now owns 44,096 shares of the basic materials company’s stock valued at $388,000 after purchasing an additional 2,021 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Tredegar by 25.9% in the first quarter. MetLife Investment Management LLC now owns 15,268 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 3,145 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Tredegar by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 76,074 shares of the basic materials company’s stock valued at $586,000 after purchasing an additional 3,278 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of Tredegar by 19.9% in the second quarter. Jane Street Group LLC now owns 22,462 shares of the basic materials company’s stock valued at $198,000 after purchasing an additional 3,722 shares during the period. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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