Tredegar (NYSE:TG) Stock: Insider William Gottwald Sells 35,506 Shares

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 35,506 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $8.00, for a total value of $284,048.00. Following the sale, the insider owned 325,620 shares of the company’s stock, valued at approximately $2,604,960. This represents a 9.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Tredegar Trading Up 1.1%

Shares of TG traded up $0.09 during trading hours on Tuesday, reaching $7.98. The stock had a trading volume of 150,521 shares, compared to its average volume of 171,123. Tredegar Corporation has a 12 month low of $6.25 and a 12 month high of $10.53. The firm has a 50-day simple moving average of $7.45 and a 200 day simple moving average of $7.91. The company has a market capitalization of $278.82 million, a price-to-earnings ratio of 8.31 and a beta of 0.75.

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Tredegar

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Tredegar in the second quarter worth $19,151,000. Gabelli Funds LLC boosted its holdings in shares of Tredegar by 1.9% in the 1st quarter. Gabelli Funds LLC now owns 1,237,000 shares of the basic materials company’s stock worth $9,834,000 after buying an additional 23,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Tredegar by 4.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,127,926 shares of the basic materials company’s stock worth $8,966,000 after buying an additional 51,438 shares during the last quarter. Renaissance Technologies LLC grew its position in Tredegar by 33.2% during the first quarter. Renaissance Technologies LLC now owns 195,400 shares of the basic materials company’s stock valued at $1,553,000 after buying an additional 48,708 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Tredegar during the second quarter valued at about $903,000. 79.24% of the stock is currently owned by institutional investors.

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.