Tredegar (NYSE:TG) Major Shareholder Sells $82,911.51 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 10,351 shares of Tredegar stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $8.01, for a total transaction of $82,911.51. Following the transaction, the insider directly owned 461,832 shares in the company, valued at approximately $3,699,274.32. This represents a 2.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Tredegar Stock Performance

Shares of Tredegar stock traded up $0.01 during mid-day trading on Thursday, hitting $8.01. 47,427 shares of the stock were exchanged, compared to its average volume of 170,833. Tredegar Corporation has a 12 month low of $6.25 and a 12 month high of $10.53. The company has a 50-day simple moving average of $8.47 and a 200 day simple moving average of $8.28. The company has a market capitalization of $280.34 million, a P/E ratio of 9.53 and a beta of 0.82.

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

Institutional Investors Weigh In On Tredegar

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC raised its holdings in Tredegar by 2,164.8% during the 1st quarter. Empowered Funds LLC now owns 32,387 shares of the basic materials company’s stock valued at $257,000 after acquiring an additional 30,957 shares during the period. Quantinno Capital Management LP raised its holdings in Tredegar by 29.0% during the 1st quarter. Quantinno Capital Management LP now owns 98,741 shares of the basic materials company’s stock valued at $785,000 after acquiring an additional 22,221 shares during the period. Renaissance Technologies LLC raised its holdings in Tredegar by 33.2% during the 1st quarter. Renaissance Technologies LLC now owns 195,400 shares of the basic materials company’s stock valued at $1,553,000 after acquiring an additional 48,708 shares during the period. Teton Advisors LLC raised its holdings in Tredegar by 2.7% during the 1st quarter. Teton Advisors LLC now owns 113,000 shares of the basic materials company’s stock valued at $898,000 after acquiring an additional 3,000 shares during the period. Finally, Gabelli Funds LLC raised its holdings in Tredegar by 1.9% during the 1st quarter. Gabelli Funds LLC now owns 1,237,000 shares of the basic materials company’s stock valued at $9,834,000 after acquiring an additional 23,000 shares during the period. Institutional investors own 79.24% of the company’s stock.

Analyst Ratings Changes

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

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.