Tredegar (NYSE:TG) Major Shareholder William Gottwald Sells 6,152 Shares of Stock

Tredegar Corporation (NYSE:TG – Get Free Report) major shareholder William Gottwald sold 6,152 shares of Tredegar stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $8.00, for a total value of $49,216.00. Following the completion of the transaction, the insider owned 428,913 shares of the company’s stock, valued at approximately $3,431,304. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Tredegar Stock Down 2.6%

Shares of TG stock opened at $7.98 on Tuesday. The business has a 50 day moving average of $8.51 and a two-hundred day moving average of $8.27. Tredegar Corporation has a 52 week low of $6.25 and a 52 week high of $10.53. The company has a market cap of $279.28 million, a P/E ratio of 9.49 and a beta of 0.75.

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

Hedge Funds Weigh In On Tredegar

Several hedge funds and other institutional investors have recently made changes to their positions in TG. Teton Advisors LLC bought a new stake in Tredegar during the third quarter worth approximately $972,000. Gabelli Funds LLC raised its holdings in Tredegar by 6.9% during the third quarter. Gabelli Funds LLC now owns 1,168,548 shares of the basic materials company’s stock worth $9,383,000 after purchasing an additional 74,933 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in Tredegar by 1.7% during the third quarter. Gamco Investors INC. ET AL now owns 5,990,851 shares of the basic materials company’s stock worth $48,107,000 after purchasing an additional 97,444 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Tredegar by 3.8% during the first quarter. Janney Montgomery Scott LLC now owns 46,921 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 1,739 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in Tredegar during the fourth quarter worth approximately $260,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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About Tredegar

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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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