Tredegar (NYSE:TG) Major Shareholder William Gottwald Sells 35,506 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 35,506 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $8.00, for a total value of $284,048.00. Following the sale, the insider directly owned 325,620 shares in the company, valued at $2,604,960. This trade represents a 9.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Tredegar Trading Up 1.8%

Shares of NYSE:TG opened at $8.03 on Wednesday. Tredegar Corporation has a 12-month low of $6.25 and a 12-month high of $10.53. The business’s fifty day simple moving average is $7.46 and its 200-day simple moving average is $7.91. The company has a market capitalization of $280.60 million, a PE ratio of 8.36 and a beta of 0.75.

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

Analyst Ratings Changes

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 analyst has rated the stock with a Hold rating. Based on data from MarketBeat, Tredegar currently has an average rating of “Hold”.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TG. BlackRock Inc. purchased a new stake in Tredegar during the second quarter valued at approximately $19,151,000. Gabelli Funds LLC increased its position in shares of 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 purchasing an additional 23,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Tredegar by 4.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,127,926 shares of the basic materials company’s stock valued at $8,966,000 after purchasing an additional 51,438 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of 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 purchasing an additional 48,708 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Tredegar during the 2nd quarter valued at $903,000. Institutional investors 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.