Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells 2,351 Shares of Stock

Tredegar Corporation (NYSE:TG – Get Free Report) major shareholder James Gottwald sold 2,351 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $8.00, for a total transaction of $18,808.00. Following the completion of the sale, the insider owned 450,873 shares of the company’s stock, valued at approximately $3,606,984. The trade was a 0.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Tredegar Stock Performance

Shares of Tredegar stock traded up $0.09 during midday trading on Thursday, reaching $7.98. 76,315 shares of the company’s stock traded hands, compared to its average volume of 169,890. The company has a market cap of $279.44 million, a price-to-earnings ratio of 9.50 and a beta of 0.74. The company’s 50 day simple moving average is $8.52 and its 200 day simple moving average is $8.26. Tredegar Corporation has a 52 week low of $6.25 and a 52 week high of $10.53.

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Tredegar (NYSE:TG – Get Free Report) last released its quarterly earnings results on Friday, May 8th. The basic materials company reported $0.15 earnings per share for the quarter. The business had revenue of $186.49 million for the quarter. Tredegar had a net margin of 3.89% and a return on equity of 12.91%.

Institutional Trading of Tredegar

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its holdings in Tredegar by 531.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,376 shares of the basic materials company’s stock valued at $27,000 after buying an additional 2,841 shares during the last quarter. Torren Management LLC acquired a new position in shares of Tredegar during the fourth quarter worth approximately $32,000. BNP Paribas Financial Markets boosted its position in shares of Tredegar by 53.2% in the third quarter. BNP Paribas Financial Markets now owns 5,273 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 1,830 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Tredegar by 225.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 4,771 shares during the last quarter. Finally, Heron Bay Capital Management bought a new position in Tredegar during the fourth quarter worth $76,000. Institutional investors own 79.24% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Tredegar from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Check Out Our Latest Analysis on TG

Tredegar Company Profile

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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.

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