James Gottwald Sells 2,351 Shares of Tredegar (NYSE:TG) Stock

Tredegar Corporation (NYSE:TG) major shareholder James Gottwald sold 2,351 shares of Tredegar stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $8.00, for a total value of $18,808.00. Following the completion of the sale, the insider directly owned 450,873 shares in the company, valued at approximately $3,606,984. This represents a 0.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 Stock Performance

NYSE:TG opened at $8.17 on Friday. The stock’s 50-day simple moving average is $8.52 and its 200 day simple moving average is $8.26. The company has a market cap of $286.25 million, a P/E ratio of 9.73 and a beta of 0.74. Tredegar Corporation has a 52-week low of $6.25 and a 52-week high of $10.53.

Tredegar (NYSE:TG) last released its earnings results on Friday, May 8th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter. The business had revenue of $186.49 million for the quarter. Tredegar had a return on equity of 12.91% and a net margin of 3.89%.

Hedge Funds Weigh In On Tredegar

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in Tredegar by 0.3% during the second quarter. Geode Capital Management LLC now owns 589,275 shares of the basic materials company’s stock worth $5,187,000 after buying an additional 1,506 shares during the last quarter. Bank of New York Mellon Corp increased its position in Tredegar by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 108,875 shares of the basic materials company’s stock worth $866,000 after buying an additional 1,660 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Tredegar by 3.8% during the first quarter. Janney Montgomery Scott LLC now owns 46,921 shares of the basic materials company’s stock worth $373,000 after buying an additional 1,739 shares during the last quarter. BNP Paribas Financial Markets increased 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 last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Tredegar by 4.8% during the second quarter. Rhumbline Advisers now owns 44,096 shares of the basic materials company’s stock worth $388,000 after acquiring an additional 2,021 shares during the period. Institutional investors and hedge funds own 79.24% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Tredegar from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

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.