Tredegar (NYSE:TG) Major Shareholder James Gottwald Sells 13,887 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder James Gottwald sold 13,887 shares of the company’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $8.57, for a total value of $119,011.59. Following the completion of the sale, the insider owned 720,084 shares in the company, valued at $6,171,119.88. The trade was a 1.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Tredegar Stock Up 4.4%

Shares of NYSE:TG traded up $0.35 during trading on Wednesday, reaching $8.23. 137,762 shares of the company’s stock traded hands, compared to its average volume of 146,605. The firm has a market cap of $287.25 million, a PE ratio of -5.21 and a beta of 0.67. Tredegar Corporation has a fifty-two week low of $6.25 and a fifty-two week high of $9.43. The company has a 50-day simple moving average of $7.73 and a 200-day simple moving average of $7.86.

Tredegar (NYSE:TG) last issued its quarterly earnings results on Friday, November 7th. The basic materials company reported $0.26 earnings per share for the quarter. Tredegar had a negative net margin of 7.75% and a positive return on equity of 8.64%. The firm had revenue of $194.94 million for the quarter.

Hedge Funds Weigh In On Tredegar

Several institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its stake in Tredegar by 531.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,376 shares of the basic materials company’s stock valued at $27,000 after buying an additional 2,841 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Tredegar by 53.2% in the third quarter. BNP Paribas Financial Markets now owns 5,273 shares of the basic materials company’s stock worth $42,000 after buying an additional 1,830 shares during the period. Tower Research Capital LLC TRC grew its position in Tredegar by 225.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 4,771 shares in the last quarter. Citadel Advisors LLC raised its position in Tredegar by 163.7% during the third quarter. Citadel Advisors LLC now owns 11,850 shares of the basic materials company’s stock valued at $95,000 after buying an additional 30,450 shares during the period. Finally, Prelude Capital Management LLC acquired a new stake in shares of Tredegar during the third quarter worth approximately $105,000. Institutional investors own 79.24% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on TG shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tredegar in a report on Wednesday, October 8th. Wall Street Zen upgraded Tredegar from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

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.