Tredegar (NYSE:TG) Major Shareholder Sells $18,800.00 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 2,350 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $8.00, for a total transaction of $18,800.00. Following the completion of the sale, the insider owned 450,873 shares of the company’s stock, valued at approximately $3,606,984. This represents a 0.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Tredegar Stock Up 1.1%

Shares of TG traded up $0.09 during trading hours on Thursday, reaching $7.98. The stock had a trading volume of 76,315 shares, compared to its average volume of 169,890. Tredegar Corporation has a 52 week low of $6.25 and a 52 week high of $10.53. The firm has a 50-day moving average of $8.52 and a 200 day moving average of $8.26. The company has a market cap of $279.44 million, a P/E ratio of 9.50 and a beta of 0.74.

Tredegar (NYSE:TG) last released its quarterly earnings data 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 business had revenue of $186.49 million during the quarter.

Hedge Funds Weigh In On Tredegar

Large investors have recently modified their holdings of the business. Teton Advisors LLC acquired a new position in shares of Tredegar during the 3rd quarter worth about $972,000. Gabelli Funds LLC boosted its stake in shares of Tredegar by 6.9% during the 3rd quarter. Gabelli Funds LLC now owns 1,168,548 shares of the basic materials company’s stock worth $9,383,000 after buying an additional 74,933 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Tredegar by 1.7% during the 3rd quarter. Gamco Investors INC. ET AL now owns 5,990,851 shares of the basic materials company’s stock worth $48,107,000 after buying an additional 97,444 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Tredegar by 19.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 43,200 shares of the basic materials company’s stock worth $343,000 after buying an additional 7,000 shares during the last quarter. Finally, Bailard Inc. boosted its stake in shares of Tredegar by 7.0% during the 4th quarter. Bailard Inc. now owns 36,956 shares of the basic materials company’s stock worth $265,000 after buying an additional 2,425 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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