Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells $49,216.00 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 6,152 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.00, for a total transaction of $49,216.00. Following the sale, the insider directly owned 428,913 shares of the company’s stock, valued at $3,431,304. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Tredegar Trading Up 0.7%

Shares of TG opened at $7.79 on Thursday. The firm has a market capitalization of $272.63 million, a P/E ratio of 9.27 and a beta of 0.74. Tredegar Corporation has a 12-month low of $6.25 and a 12-month high of $10.53. The firm has a fifty day moving average price of $8.50 and a 200-day moving average price of $8.27.

Tredegar (NYSE:TG) last announced its quarterly earnings results on Friday, May 8th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter. The firm 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 report on Monday, May 11th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Tredegar has an average rating of “Hold”.

Institutional Trading of Tredegar

A number of hedge funds have recently added to or reduced their stakes in TG. Gamco Investors INC. ET AL lifted its stake in Tredegar by 5.2% in the fourth quarter. Gamco Investors INC. ET AL now owns 6,302,684 shares of the basic materials company’s stock worth $45,253,000 after acquiring an additional 311,833 shares during the period. Marshall Wace LLP purchased a new stake in Tredegar during the fourth quarter worth $1,427,000. Millennium Management LLC lifted its holdings in Tredegar by 716.3% during the fourth quarter. Millennium Management LLC now owns 195,704 shares of the basic materials company’s stock worth $1,405,000 after buying an additional 171,729 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Tredegar by 34.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 598,785 shares of the basic materials company’s stock worth $4,299,000 after buying an additional 154,735 shares during the period. Finally, Jane Street Group LLC lifted its holdings in Tredegar by 417.1% during the fourth quarter. Jane Street Group LLC now owns 162,735 shares of the basic materials company’s stock worth $1,168,000 after buying an additional 131,264 shares during the period. 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.