Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells $267,672.02 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 33,334 shares of the business’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $8.03, for a total value of $267,672.02. Following the sale, the insider owned 292,286 shares in the company, valued at approximately $2,347,056.58. The trade was a 10.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Tredegar Price Performance

Tredegar stock traded up $0.07 during trading hours on Thursday, hitting $8.03. The stock had a trading volume of 243,565 shares, compared to its average volume of 172,981. Tredegar Corporation has a 1-year low of $6.25 and a 1-year high of $10.53. The stock has a market capitalization of $280.57 million, a price-to-earnings ratio of 8.36 and a beta of 0.75. The stock’s fifty day moving average is $7.46 and its two-hundred day moving average is $7.91.

Tredegar (NYSE:TG) last announced its quarterly earnings results on Friday, August 7th. The basic materials company reported $0.18 earnings per share for the quarter. The business had revenue of $216.24 million during the quarter. Tredegar had a return on equity of 14.52% and a net margin of 4.26%. During the same quarter in the prior year, the business earned $0.05 EPS.

Institutional Investors Weigh In On Tredegar

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Tredegar during the second quarter valued at approximately $19,151,000. Empowered Funds LLC acquired a new stake in Tredegar in the 2nd quarter valued at $630,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Tredegar in the second quarter valued at about $783,000. Bank of New York Mellon Corp purchased a new stake in shares of Tredegar during the second quarter valued at approximately $903,000. Finally, Ieq Capital LLC purchased a new stake in Tredegar during the 2nd quarter worth $152,000. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Tredegar from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

About Tredegar

Tredegar Corporation (NYSE: TG) is a manufacturer of specialty plastic films. Its products include polyethylene films used in personal care, household, medical, industrial and other consumer applications. The company’s films are incorporated into products such as diapers, hygiene products, packaging and protective materials.

Tredegar has also operated flexible packaging film businesses, producing high-performance films for food, beverage, pharmaceutical and other packaged goods applications.