William Gottwald Sells 7,384 Shares of Tredegar (NYSE:TG) Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 7,384 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $8.01, for a total transaction of $59,145.84. Following the completion of the transaction, the insider directly owned 482,468 shares of the company’s stock, valued at approximately $3,864,568.68. The trade was a 1.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Tredegar Stock Down 2.9%

Shares of TG opened at $7.24 on Wednesday. The company has a market cap of $253.37 million, a P/E ratio of 8.61 and a beta of 0.82. Tredegar Corporation has a fifty-two week low of $6.25 and a fifty-two week high of $10.53. The firm’s 50 day moving average price is $8.49 and its 200 day moving average price is $8.22.

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

Institutional Investors Weigh In On Tredegar

A number of large investors have recently modified their holdings of the company. Gamco Investors INC. ET AL lifted its position in shares of Tredegar by 5.2% during the 4th quarter. Gamco Investors INC. ET AL now owns 6,302,684 shares of the basic materials company’s stock worth $45,253,000 after purchasing an additional 311,833 shares during the last quarter. Marshall Wace LLP acquired a new stake in Tredegar in the fourth quarter valued at $1,427,000. Millennium Management LLC lifted its holdings in Tredegar by 716.3% during the 4th quarter. Millennium Management LLC now owns 195,704 shares of the basic materials company’s stock worth $1,405,000 after buying an additional 171,729 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Tredegar by 34.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 598,785 shares of the basic materials company’s stock worth $4,299,000 after buying an additional 154,735 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Tredegar by 417.1% during the 4th quarter. Jane Street Group LLC now owns 162,735 shares of the basic materials company’s stock worth $1,168,000 after acquiring an additional 131,264 shares in the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Tredegar from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average 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.