Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells 4,461 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder James Gottwald sold 4,461 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $8.80, for a total transaction of $39,256.80. Following the completion of the sale, the insider directly owned 578,483 shares of the company’s stock, valued at approximately $5,090,650.40. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Tredegar Stock Performance

Shares of NYSE:TG traded up $0.09 on Tuesday, hitting $8.87. 33,386 shares of the company were exchanged, compared to its average volume of 162,442. The company’s 50 day moving average price is $8.18 and its two-hundred day moving average price is $7.86. The firm has a market capitalization of $309.66 million, a price-to-earnings ratio of -5.62 and a beta of 0.65. Tredegar Corporation has a one year low of $6.25 and a one year high of $9.43.

Institutional Trading of Tredegar

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC acquired a new position in Tredegar during the fourth quarter worth $86,000. XTX Topco Ltd acquired a new position in shares of Tredegar during the 4th quarter worth about $160,000. Occudo Quantitative Strategies LP bought a new position in shares of Tredegar in the 4th quarter valued at about $161,000. Millennium Management LLC increased its position in shares of Tredegar by 716.3% in the fourth quarter. Millennium Management LLC now owns 195,704 shares of the basic materials company’s stock valued at $1,405,000 after acquiring an additional 171,729 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in Tredegar during the fourth quarter worth about $205,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wall Street Zen raised Tredegar from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tredegar in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company 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.