Tredegar (NYSE:TG) Major Shareholder Sells $35,062.16 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 4,318 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $8.12, for a total value of $35,062.16. Following the transaction, the insider directly owned 361,920 shares in the company, valued at approximately $2,938,790.40. This represents a 1.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Tredegar Stock Performance

Shares of NYSE TG opened at $7.97 on Monday. Tredegar Corporation has a fifty-two week low of $6.25 and a fifty-two week high of $10.53. The company has a market cap of $278.47 million, a price-to-earnings ratio of 8.30 and a beta of 0.76. The business’s 50 day moving average price is $7.77 and its 200-day moving average price is $8.25.

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 during the quarter. During the same quarter in the previous year, the firm earned $0.05 EPS.

Institutional Investors Weigh In On Tredegar

Several hedge funds have recently made changes to their positions in TG. Russell Investments Group Ltd. grew its holdings in Tredegar by 531.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,376 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 2,841 shares in the last quarter. Torren Management LLC purchased a new position in Tredegar during the 4th quarter valued at about $32,000. BNP Paribas Financial Markets raised its holdings in shares of Tredegar by 53.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,273 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 1,830 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings 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 valued at $61,000 after purchasing an additional 4,771 shares in the last quarter. Finally, Heron Bay Capital Management purchased a new stake in shares of Tredegar in the 4th quarter worth approximately $76,000. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.