Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells 20,146 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 20,146 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $8.16, for a total transaction of $164,391.36. Following the sale, the insider owned 408,767 shares in the company, valued at approximately $3,335,538.72. This trade represents a 4.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Tredegar Trading Down 1.8%

Shares of Tredegar stock traded down $0.15 on Monday, hitting $8.04. 110,220 shares of the company traded hands, compared to its average volume of 170,286. The firm’s 50-day simple moving average is $8.52 and its 200 day simple moving average is $8.27. The company has a market cap of $281.56 million, a P/E ratio of 9.57 and a beta of 0.75. Tredegar Corporation has a 12-month low of $6.25 and a 12-month high of $10.53.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Teton Advisors LLC purchased a new position in shares of Tredegar in the third quarter worth about $972,000. Gabelli Funds LLC increased its position in shares of Tredegar by 6.9% in the third quarter. Gabelli Funds LLC now owns 1,168,548 shares of the basic materials company’s stock valued at $9,383,000 after acquiring an additional 74,933 shares during the period. Gamco Investors INC. ET AL increased its position in shares of Tredegar by 1.7% in the third quarter. Gamco Investors INC. ET AL now owns 5,990,851 shares of the basic materials company’s stock valued at $48,107,000 after acquiring an additional 97,444 shares during the period. Hillsdale Investment Management Inc. increased its position in shares of Tredegar by 19.3% in the first quarter. Hillsdale Investment Management Inc. now owns 43,200 shares of the basic materials company’s stock valued at $343,000 after acquiring an additional 7,000 shares during the period. Finally, Bailard Inc. increased its position in shares of Tredegar by 7.0% in the fourth quarter. Bailard Inc. now owns 36,956 shares of the basic materials company’s stock valued at $265,000 after acquiring an additional 2,425 shares during the period. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Wall Street Analyst Weigh In

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

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.