Tredegar (NYSE:TG) Major Shareholder Sells $164,383.20 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 20,145 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $8.16, for a total value of $164,383.20. Following the transaction, the insider directly owned 408,767 shares of the company’s stock, valued at $3,335,538.72. The trade was a 4.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Tredegar Stock Performance

Tredegar stock opened at $7.79 on Thursday. The stock has a fifty day moving average of $8.50 and a two-hundred day moving average of $8.27. The company has a market capitalization of $272.63 million, a price-to-earnings ratio of 9.27 and a beta of 0.74. Tredegar Corporation has a fifty-two week low of $6.25 and a fifty-two week high of $10.53.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Tredegar

A number of hedge funds and other institutional investors have recently made changes to their positions in TG. Gamco Investors INC. ET AL grew its position in shares of Tredegar by 5.2% in the fourth quarter. Gamco Investors INC. ET AL now owns 6,302,684 shares of the basic materials company’s stock valued at $45,253,000 after purchasing an additional 311,833 shares during the period. Marshall Wace LLP purchased a new stake in shares of Tredegar in the fourth quarter valued at $1,427,000. Millennium Management LLC grew 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 purchasing an additional 171,729 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Tredegar by 34.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 598,785 shares of the basic materials company’s stock valued at $4,299,000 after purchasing an additional 154,735 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Tredegar by 417.1% in the fourth quarter. Jane Street Group LLC now owns 162,735 shares of the basic materials company’s stock valued at $1,168,000 after purchasing an additional 131,264 shares during the period. Hedge funds and other institutional investors own 79.24% of the company’s stock.

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.