Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells $211,500.48 in Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 24,824 shares of Tredegar stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $8.52, for a total transaction of $211,500.48. Following the completion of the transaction, the insider directly owned 640,992 shares in the company, valued at $5,461,251.84. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Tredegar Price Performance

Shares of TG opened at $8.55 on Thursday. The firm has a 50 day simple moving average of $7.77 and a two-hundred day simple moving average of $7.84. Tredegar Corporation has a one year low of $6.25 and a one year high of $9.43. The company has a market cap of $298.38 million, a P/E ratio of -5.41 and a beta of 0.67.

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

Institutional Investors Weigh In On Tredegar

A number of institutional investors have recently modified their holdings of the company. AQR Capital Management LLC increased 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 worth $132,000 after buying an additional 4,097 shares during the period. Jane Street Group LLC bought a new stake in Tredegar during the first quarter valued at $144,000. Janney Montgomery Scott LLC acquired a new stake in Tredegar during the 2nd quarter worth about $413,000. Ritholtz Wealth Management raised its position in shares of 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 lifted its stake in shares of Tredegar by 0.3% in 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 owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on TG. Wall Street Zen raised shares of 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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Tredegar presently 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.