Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells 24,823 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 24,823 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $8.52, for a total transaction of $211,491.96. Following the completion of the transaction, the insider owned 640,992 shares of the company’s stock, valued at approximately $5,461,251.84. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Tredegar Stock Performance

Shares of NYSE:TG traded up $0.17 during midday trading on Monday, reaching $8.73. 16,883 shares of the company’s stock traded hands, compared to its average volume of 171,450. Tredegar Corporation has a one year low of $6.25 and a one year high of $9.43. The stock has a 50 day moving average of $7.74 and a 200 day moving average of $7.84. The company has a market cap of $304.59 million, a price-to-earnings ratio of -5.52 and a beta of 0.67.

Tredegar (NYSE:TG) last announced its quarterly earnings results on Friday, November 7th. The basic materials company reported $0.26 EPS for the quarter. Tredegar had a negative net margin of 7.75% and a positive return on equity of 8.64%. The firm had revenue of $194.94 million during the quarter.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its position in shares of 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 acquiring an additional 2,841 shares during the period. BNP Paribas Financial Markets boosted its position in Tredegar by 53.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,273 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 1,830 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Tredegar by 225.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company’s stock valued at $61,000 after buying an additional 4,771 shares during the period. Citadel Advisors LLC increased its holdings in Tredegar by 163.7% in the third quarter. Citadel Advisors LLC now owns 11,850 shares of the basic materials company’s stock valued at $95,000 after buying an additional 30,450 shares in the last quarter. Finally, Prelude Capital Management LLC acquired a new position in shares of Tredegar in the third quarter worth about $105,000. 79.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on TG. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tredegar in a report on Wednesday. Wall Street Zen raised shares of Tredegar from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

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.