Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells 3,418 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 3,418 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $8.87, for a total value of $30,317.66. Following the sale, the insider owned 583,968 shares in the company, valued at $5,179,796.16. This trade represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Tredegar Price Performance

NYSE TG traded up $0.05 during trading hours on Thursday, reaching $8.76. The company’s stock had a trading volume of 110,140 shares, compared to its average volume of 169,801. The firm has a market capitalization of $305.81 million, a price-to-earnings ratio of -5.54 and a beta of 0.65. The company’s 50-day moving average is $8.11 and its two-hundred day moving average is $7.85. Tredegar Corporation has a 1-year low of $6.25 and a 1-year high of $9.43.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Gate City Capital Management LLC grew its stake in shares of Tredegar by 113.5% in the 2nd quarter. Gate City Capital Management LLC now owns 260,088 shares of the basic materials company’s stock valued at $2,289,000 after buying an additional 138,278 shares during the period. Gamco Investors INC. ET AL lifted its holdings in Tredegar by 1.9% in the second quarter. Gamco Investors INC. ET AL now owns 5,893,407 shares of the basic materials company’s stock valued at $51,862,000 after acquiring an additional 107,627 shares during the last quarter. Bailard Inc. purchased a new position in Tredegar in the second quarter worth approximately $272,000. HB Wealth Management LLC acquired a new stake in Tredegar during the third quarter worth $720,000. Finally, Merit Financial Group LLC purchased a new stake in Tredegar in the third quarter valued at $155,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen upgraded Tredegar from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Tredegar in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Tredegar Company Profile

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.