Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells 54,268 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 54,268 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $8.70, for a total transaction of $472,131.60. Following the completion of the transaction, the insider owned 665,816 shares in the company, valued at $5,792,599.20. The trade was a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major 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 traded up $0.17 during mid-day trading on Monday, reaching $8.73. 16,883 shares of the company’s stock were exchanged, compared to its average volume of 171,450. The firm has a market capitalization of $304.59 million, a price-to-earnings ratio of -5.52 and a beta of 0.67. The company’s 50-day moving average is $7.74 and its 200-day moving average is $7.84. Tredegar Corporation has a 52-week low of $6.25 and a 52-week high of $9.43.

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

Analyst Ratings Changes

TG has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tredegar in a research report on Wednesday. Wall Street Zen raised shares of Tredegar from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Hedge Funds Weigh In On Tredegar

A number of institutional investors and hedge funds have recently made changes to their positions in TG. Russell Investments Group Ltd. increased its holdings in shares of Tredegar by 531.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,376 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 2,841 shares in the last quarter. BNP Paribas Financial Markets grew its position in Tredegar by 53.2% during the third quarter. BNP Paribas Financial Markets now owns 5,273 shares of the basic materials company’s stock worth $42,000 after buying an additional 1,830 shares during the period. Tower Research Capital LLC TRC increased its holdings in Tredegar by 225.3% in the second 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 in the last quarter. Citadel Advisors LLC lifted its position in shares of Tredegar by 163.7% during the 3rd quarter. Citadel Advisors LLC now owns 11,850 shares of the basic materials company’s stock valued at $95,000 after acquiring an additional 30,450 shares during the period. Finally, Prelude Capital Management LLC acquired a new stake in shares of Tredegar during the 3rd quarter valued at approximately $105,000. 79.24% of the stock is owned by institutional investors and hedge funds.

About Tredegar

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.