Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells $107,942.93 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 12,007 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $8.99, for a total value of $107,942.93. Following the completion of the sale, the insider owned 529,438 shares of the company’s stock, valued at approximately $4,759,647.62. This represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Tredegar Stock Performance

TG stock traded up $0.38 during mid-day trading on Monday, reaching $9.56. 173,848 shares of the stock traded hands, compared to its average volume of 165,489. The business has a 50-day moving average price of $8.29 and a two-hundred day moving average price of $7.90. The stock has a market capitalization of $333.78 million, a PE ratio of -6.05 and a beta of 0.65. Tredegar Corporation has a one year low of $6.25 and a one year high of $9.60.

Hedge Funds Weigh In On Tredegar

Several institutional investors and hedge funds have recently bought and sold shares of TG. Gate City Capital Management LLC lifted its holdings in shares of Tredegar by 113.5% during 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 purchasing an additional 138,278 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in Tredegar by 1.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 5,893,407 shares of the basic materials company’s stock worth $51,862,000 after buying an additional 107,627 shares during the last quarter. Bailard Inc. acquired a new position in Tredegar during the 2nd quarter valued at about $272,000. HB Wealth Management LLC purchased a new stake in Tredegar in the third quarter valued at about $720,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Tredegar by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,305 shares of the basic materials company’s stock worth $118,000 after acquiring an additional 2,707 shares in the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TG. Wall Street Zen upgraded Tredegar from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tredegar in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average 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.