Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells 10,352 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 10,352 shares of Tredegar stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $8.01, for a total value of $82,919.52. Following the completion of the sale, the insider directly owned 461,831 shares of the company’s stock, valued at $3,699,266.31. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Tredegar Price Performance

Shares of NYSE TG traded up $0.01 during midday trading on Thursday, hitting $8.01. The stock had a trading volume of 47,427 shares, compared to its average volume of 170,833. The company’s 50-day simple moving average is $8.47 and its 200 day simple moving average is $8.28. The firm has a market cap of $280.34 million, a P/E ratio of 9.53 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.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its position in shares of Tredegar by 31.4% in the first quarter. AQR Capital Management LLC now owns 17,158 shares of the basic materials company’s stock valued at $132,000 after acquiring an additional 4,097 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Tredegar in the 1st quarter valued at about $144,000. Geode Capital Management LLC raised its holdings in shares of Tredegar by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 589,275 shares of the basic materials company’s stock valued at $5,187,000 after purchasing an additional 1,506 shares during the period. Rhumbline Advisers raised its holdings in shares of Tredegar by 4.8% in the 2nd quarter. Rhumbline Advisers now owns 44,096 shares of the basic materials company’s stock valued at $388,000 after purchasing an additional 2,021 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Tredegar by 225.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 4,771 shares during the period. 79.24% of the stock is currently owned by 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.