Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells $140,442.12 in Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 17,148 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $8.19, for a total value of $140,442.12. Following the completion of the transaction, the insider owned 391,619 shares in the company, valued at approximately $3,207,359.61. This trade represents a 4.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Tredegar Stock Performance

Shares of TG opened at $7.96 on Friday. Tredegar Corporation has a one year low of $6.25 and a one year high of $10.53. The stock has a 50-day moving average price of $7.77 and a 200 day moving average price of $8.28. The company has a market capitalization of $278.09 million, a P/E ratio of 8.29 and a beta of 0.76.

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

Hedge Funds Weigh In On Tredegar

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings in Tredegar by 531.0% in the third quarter. Russell Investments Group Ltd. now owns 3,376 shares of the basic materials company’s stock valued at $27,000 after buying an additional 2,841 shares during the last quarter. Torren Management LLC bought a new position in Tredegar during the 4th quarter worth approximately $32,000. BNP Paribas Financial Markets lifted its holdings in Tredegar by 53.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,273 shares of the basic materials company’s stock worth $42,000 after buying an additional 1,830 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Tredegar by 225.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 4,771 shares in the last quarter. Finally, Heron Bay Capital Management acquired a new position in shares of Tredegar in the 4th quarter worth approximately $76,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Tredegar in a research note on Friday, August 7th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average 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.