Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells $30,326.53 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 3,419 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $8.87, for a total value of $30,326.53. Following the transaction, the insider owned 583,968 shares in the company, valued at $5,179,796.16. The trade was a 0.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Tredegar Price Performance

Tredegar stock opened at $8.81 on Friday. The stock’s 50 day moving average price is $8.15 and its 200 day moving average price is $7.86. Tredegar Corporation has a 1-year low of $6.25 and a 1-year high of $9.43. The company has a market cap of $307.38 million, a PE ratio of -5.57 and a beta of 0.65.

Hedge Funds Weigh In On Tredegar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TG. Gamco Investors INC. ET AL grew its position in shares of Tredegar by 5.2% in the fourth quarter. Gamco Investors INC. ET AL now owns 6,302,684 shares of the basic materials company’s stock valued at $45,253,000 after purchasing an additional 311,833 shares during the last quarter. Vanguard Group Inc. lifted its stake in Tredegar by 8.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,512,840 shares of the basic materials company’s stock valued at $12,148,000 after buying an additional 117,298 shares in the last quarter. Gabelli Funds LLC lifted its stake in Tredegar by 3.9% in the 4th quarter. Gabelli Funds LLC now owns 1,214,000 shares of the basic materials company’s stock valued at $8,717,000 after buying an additional 45,452 shares in the last quarter. Geode Capital Management LLC grew its holdings in Tredegar by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 642,115 shares of the basic materials company’s stock valued at $4,611,000 after buying an additional 21,320 shares during the last quarter. Finally, State Street Corp increased its position in Tredegar by 1.9% during the fourth quarter. State Street Corp now owns 610,289 shares of the basic materials company’s stock worth $4,382,000 after buying an additional 11,205 shares in the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on TG. Wall Street Zen upgraded shares of Tredegar from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated 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.com, the stock 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.