Tredegar (NYSE:TG) Major Shareholder Sells $284,056.00 in Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 35,507 shares of Tredegar stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $8.00, for a total value of $284,056.00. Following the completion of the transaction, the insider directly owned 325,620 shares in the company, valued at approximately $2,604,960. This represents a 9.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Tredegar Trading Up 1.1%

NYSE:TG traded up $0.09 during mid-day trading on Tuesday, hitting $7.98. The company’s stock had a trading volume of 150,521 shares, compared to its average volume of 171,123. The stock has a fifty day moving average of $7.45 and a 200-day moving average of $7.91. The company has a market capitalization of $278.82 million, a price-to-earnings ratio of 8.31 and a beta of 0.75. Tredegar Corporation has a fifty-two week low of $6.25 and a fifty-two week high of $10.53.

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

Institutional Trading of Tredegar

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Corient Private Wealth LP bought a new position in Tredegar during the second quarter worth about $82,000. Susquehanna International Group LLP lifted its stake in Tredegar by 116.2% during the second quarter. Susquehanna International Group LLP now owns 36,581 shares of the basic materials company’s stock worth $291,000 after purchasing an additional 19,664 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Tredegar by 145.3% during the 2nd quarter. Hsbc Holdings PLC now owns 30,559 shares of the basic materials company’s stock worth $242,000 after buying an additional 18,103 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Tredegar in the 2nd quarter valued at approximately $630,000. Finally, Bank of America Corp DE bought a new stake in shares of Tredegar during the second quarter worth $508,000. Institutional investors own 79.24% of the company’s stock.

Analysts Set New Price Targets

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

Tredegar Company Profile

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.