Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells 12,008 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 12,008 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $8.99, for a total transaction of $107,951.92. Following the transaction, the insider directly owned 529,438 shares in the company, valued at $4,759,647.62. The trade was a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Tredegar Trading Up 4.2%

Tredegar stock traded up $0.38 during trading hours on Monday, reaching $9.56. 173,848 shares of the company were exchanged, compared to its average volume of 165,489. Tredegar Corporation has a 12 month low of $6.25 and a 12 month high of $9.60. The stock has a 50-day moving average of $8.29 and a 200 day moving average of $7.90. The firm has a market cap of $333.78 million, a price-to-earnings ratio of -6.05 and a beta of 0.65.

Analyst Ratings Changes

TG has been the subject of several recent analyst reports. Wall Street Zen upgraded Tredegar from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tredegar in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Hedge Funds Weigh In On Tredegar

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

About Tredegar

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.