Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells $472,140.30 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 54,269 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $8.70, for a total transaction of $472,140.30. Following the completion of the transaction, the insider directly owned 665,815 shares in the company, valued at approximately $5,792,590.50. The trade was a 7.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 Trading Down 1.8%

Shares of TG opened at $8.55 on Thursday. The stock has a 50-day moving average price of $7.77 and a 200-day moving average price of $7.84. The company has a market cap of $298.38 million, a PE ratio of -5.41 and a beta of 0.67. Tredegar Corporation has a 12-month low of $6.25 and a 12-month high of $9.43.

Tredegar (NYSE:TG) last issued its quarterly earnings results on Friday, November 7th. The basic materials company reported $0.26 EPS for the quarter. Tredegar had a negative net margin of 7.75% and a positive return on equity of 8.64%. The firm had revenue of $194.94 million for the quarter.

Institutional Trading of Tredegar

Several institutional investors have recently added to or reduced their stakes in TG. AQR Capital Management LLC boosted its position in shares of Tredegar by 31.4% during the first quarter. AQR Capital Management LLC now owns 17,158 shares of the basic materials company’s stock valued at $132,000 after buying an additional 4,097 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Tredegar in the 1st quarter worth $144,000. Janney Montgomery Scott LLC purchased a new stake in Tredegar in the second quarter worth about $413,000. Ritholtz Wealth Management increased its holdings in Tredegar by 112.9% in the 2nd quarter. Ritholtz Wealth Management now owns 83,411 shares of the basic materials company’s stock worth $734,000 after acquiring an additional 44,224 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Tredegar by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 589,275 shares of the basic materials company’s stock valued at $5,187,000 after purchasing an additional 1,506 shares during the period. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TG has been the subject of several analyst reports. Wall Street Zen upgraded Tredegar from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tredegar in a research note on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

About Tredegar

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.