Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells $61,906.38 in Stock

Tredegar Corporation (NYSE:TG) major shareholder James Gottwald sold 7,719 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $8.02, for a total value of $61,906.38. Following the completion of the sale, the insider directly owned 369,710 shares in the company, valued at approximately $2,965,074.20. The trade was a 2.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Tredegar Trading Up 1.4%

Shares of TG opened at $7.97 on Friday. The company has a market cap of $278.47 million, a PE ratio of 8.30 and a beta of 0.76. The stock has a 50-day moving average price of $7.77 and a 200-day moving average price of $8.25. Tredegar Corporation has a 12-month low of $6.25 and a 12-month high of $10.53.

Tredegar (NYSE:TG) last posted its quarterly earnings data on Friday, August 7th. The basic materials company reported $0.18 earnings per share for the quarter. The company had revenue of $216.24 million for the quarter. Tredegar had a net margin of 4.26% and a return on equity of 14.52%. During the same quarter last year, the company posted $0.05 earnings per share.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Tredegar in a research report on Friday, August 7th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Hedge Funds Weigh In On Tredegar

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

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.