Tredegar (NYSE:TG) Major Shareholder William Gottwald Sells 33,334 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 33,334 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $8.03, for a total value of $267,672.02. Following the transaction, the insider directly owned 292,286 shares of the company’s stock, valued at $2,347,056.58. This represents a 10.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 Up 0.9%

Shares of NYSE:TG opened at $8.03 on Friday. The company has a market cap of $280.57 million, a price-to-earnings ratio of 8.36 and a beta of 0.75. The business has a 50 day moving average price of $7.46 and a 200 day moving average price of $7.91. Tredegar Corporation has a twelve month low of $6.25 and a twelve month high of $10.53.

Tredegar (NYSE:TG) last issued its quarterly earnings results on Friday, August 7th. The basic materials company reported $0.18 EPS for the quarter. Tredegar had a return on equity of 14.52% and a net margin of 4.26%. The company had revenue of $216.24 million for the quarter. During the same period in the prior year, the firm earned $0.05 earnings per share.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Tredegar from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Tredegar in the second quarter valued at about $19,151,000. Gabelli Funds LLC grew its position in Tredegar by 1.9% during the first quarter. Gabelli Funds LLC now owns 1,237,000 shares of the basic materials company’s stock worth $9,834,000 after buying an additional 23,000 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Tredegar by 4.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,127,926 shares of the basic materials company’s stock worth $8,966,000 after buying an additional 51,438 shares in the last quarter. Renaissance Technologies LLC increased its stake in Tredegar by 33.2% during the first 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. Finally, Bank of New York Mellon Corp bought a new position in Tredegar during the second quarter valued at about $903,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

About Tredegar

Tredegar Corporation (NYSE: TG) is a manufacturer of specialty plastic films. Its products include polyethylene films used in personal care, household, medical, industrial and other consumer applications. The company’s films are incorporated into products such as diapers, hygiene products, packaging and protective materials.

Tredegar has also operated flexible packaging film businesses, producing high-performance films for food, beverage, pharmaceutical and other packaged goods applications.