Insider Selling: Tredegar (NYSE:TG) Director Sells 5,435 Shares of Stock

Tredegar Corporation (NYSE:TG) Director Carl Tack III sold 5,435 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $7.81, for a total transaction of $42,447.35. Following the completion of the transaction, the director directly owned 73,421 shares of the company’s stock, valued at $573,418.01. This represents a 6.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Tredegar Stock Up 5.2%

TG stock traded up $0.38 during mid-day trading on Wednesday, hitting $7.65. The company had a trading volume of 193,949 shares, compared to its average volume of 170,199. The company has a market capitalization of $267.88 million, a price-to-earnings ratio of 9.11 and a beta of 0.82. Tredegar Corporation has a 12-month low of $6.25 and a 12-month high of $10.53. The company has a 50-day moving average price of $8.49 and a 200 day moving average price of $8.22.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Tredegar from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Institutional Trading of Tredegar

Several hedge funds have recently made changes to their positions in TG. Gamco Investors INC. ET AL raised 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 valued at $45,253,000 after buying an additional 311,833 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Tredegar during the 4th quarter valued at about $1,427,000. Millennium Management LLC raised its position in shares of Tredegar by 716.3% during the 4th quarter. Millennium Management LLC now owns 195,704 shares of the basic materials company’s stock valued at $1,405,000 after buying an additional 171,729 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of 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 valued at $4,299,000 after buying an additional 154,735 shares in the last quarter. Finally, Jane Street Group LLC raised 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 valued at $1,168,000 after buying an additional 131,264 shares in the last quarter. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

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.