Tredegar (NYSE:TG) Major Shareholder Sells $59,137.83 in Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 7,383 shares of the company’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 $59,137.83. Following the completion of the transaction, the insider owned 482,469 shares of the company’s stock, valued at approximately $3,864,576.69. This trade represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 $7.65 on Thursday. Tredegar Corporation has a 52 week low of $6.25 and a 52 week high of $10.53. The firm has a market cap of $267.90 million, a PE ratio of 9.11 and a beta of 0.82. The firm’s fifty day moving average is $8.48 and its 200-day moving average is $8.23.

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Tredegar

Institutional investors have recently modified their holdings of the company. Gamco Investors INC. ET AL lifted its holdings in shares of Tredegar by 5.2% in 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 in the last quarter. Vanguard Group Inc. increased its stake in Tredegar by 8.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,512,840 shares of the basic materials company’s stock valued at $12,148,000 after purchasing an additional 117,298 shares in the last quarter. Gabelli Funds LLC raised its holdings in Tredegar by 1.9% during the first quarter. Gabelli Funds LLC now owns 1,237,000 shares of the basic materials company’s stock worth $9,834,000 after buying an additional 23,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Tredegar by 4.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,127,926 shares of the basic materials company’s stock valued at $8,966,000 after buying an additional 51,438 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Tredegar by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 642,115 shares of the basic materials company’s stock valued at $4,611,000 after buying an additional 21,320 shares in the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

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.