Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells 6,152 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 6,152 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $8.00, for a total transaction of $49,216.00. Following the completion of the transaction, the insider directly owned 428,913 shares in the company, valued at $3,431,304. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Tredegar Trading Down 1.8%

Shares of NYSE:TG traded down $0.15 during midday trading on Monday, reaching $8.04. The company had a trading volume of 110,220 shares, compared to its average volume of 170,286. The company’s 50 day moving average price is $8.52 and its 200 day moving average price is $8.27. The stock 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 52-week low of $6.25 and a 52-week high of $10.53.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Tredegar

Institutional investors have recently added to or reduced their stakes in the business. Teton Advisors LLC purchased a new stake in Tredegar during the third quarter valued at about $972,000. Gabelli Funds LLC lifted its holdings in Tredegar by 6.9% during 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 purchasing an additional 74,933 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in Tredegar by 1.7% during 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 purchasing an additional 97,444 shares during the last quarter. Hillsdale Investment Management Inc. lifted its holdings in Tredegar by 19.3% during the first quarter. Hillsdale Investment Management Inc. now owns 43,200 shares of the basic materials company’s stock valued at $343,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Bailard Inc. lifted its holdings in Tredegar by 7.0% during the fourth quarter. Bailard Inc. now owns 36,956 shares of the basic materials company’s stock valued at $265,000 after purchasing an additional 2,425 shares during the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

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.