Tredegar (NYSE:TG) Major Shareholder Sells $119,011.59 in Stock

Tredegar Corporation (NYSE:TG) major shareholder James Gottwald sold 13,887 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $8.57, for a total transaction of $119,011.59. Following the transaction, the insider owned 720,084 shares of the company’s stock, valued at $6,171,119.88. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major 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

Shares of NYSE TG opened at $8.54 on Friday. The firm’s 50-day moving average is $7.74 and its two-hundred day moving average is $7.86. Tredegar Corporation has a 12-month low of $6.25 and a 12-month high of $9.43. The company has a market capitalization of $298.24 million, a PE ratio of -5.41 and a beta of 0.67.

Tredegar (NYSE:TG) last posted its earnings results on Friday, November 7th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter. The firm 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%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gate City Capital Management LLC increased its stake in Tredegar by 113.5% during the second quarter. Gate City Capital Management LLC now owns 260,088 shares of the basic materials company’s stock worth $2,289,000 after acquiring an additional 138,278 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Tredegar by 1.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 5,893,407 shares of the basic materials company’s stock worth $51,862,000 after purchasing an additional 107,627 shares during the period. Bailard Inc. acquired a new stake in Tredegar during the 2nd quarter worth approximately $272,000. HB Wealth Management LLC purchased a new position in Tredegar in the third quarter valued at approximately $720,000. Finally, Janney Montgomery Scott LLC acquired a new position in Tredegar during the second quarter valued at approximately $413,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TG shares. Wall Street Zen upgraded Tredegar from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Tredegar in a report on Wednesday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average 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.