William Gottwald Sells 7,718 Shares of Tredegar (NYSE:TG) Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 7,718 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $8.02, for a total transaction of $61,898.36. Following the completion of the transaction, the insider owned 369,710 shares in the company, valued at approximately $2,965,074.20. This trade represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Tredegar Price Performance

TG traded down $0.01 during trading on Wednesday, hitting $7.99. The company’s stock had a trading volume of 50,404 shares, compared to its average volume of 169,035. Tredegar Corporation has a twelve month low of $6.25 and a twelve month high of $10.53. The firm’s 50 day moving average price is $7.78 and its 200-day moving average price is $8.27. The stock has a market cap of $279.17 million, a PE ratio of 8.32 and a beta of 0.76.

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

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tredegar in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Tredegar

A number of institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in Tredegar by 531.0% in the 3rd 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 purchased a new stake in shares of Tredegar during the fourth quarter worth about $32,000. BNP Paribas Financial Markets lifted its stake in shares of Tredegar by 53.2% in the third quarter. BNP Paribas Financial Markets now owns 5,273 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 1,830 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Tredegar by 225.3% in the second 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 purchased a new position in Tredegar in the fourth quarter valued at about $76,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

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.