Tredegar (NYSE:TG) Major Shareholder Sells 7,719 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder James Gottwald sold 7,719 shares of Tredegar stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $8.02, for a total value of $61,906.38. Following the sale, the insider directly owned 369,710 shares of the company’s stock, valued at approximately $2,965,074.20. This represents a 2.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Tredegar Trading Down 0.1%

NYSE TG traded down $0.01 on Wednesday, hitting $7.99. 50,404 shares of the company’s stock traded hands, compared to its average volume of 169,035. The firm’s 50-day moving average price is $7.78 and its two-hundred day moving average price is $8.27. The firm has a market capitalization of $279.17 million, a PE ratio of 8.32 and a beta of 0.76. Tredegar Corporation has a 1-year low of $6.25 and a 1-year high of $10.53.

Tredegar (NYSE:TG) last issued its earnings results on Friday, August 7th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter. The firm had revenue of $216.24 million during the quarter. Tredegar had a net margin of 4.26% and a return on equity of 14.52%. During the same period last year, the business earned $0.05 EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Tredegar in the 2nd quarter valued at $19,151,000. Gamco Investors INC. ET AL lifted its stake in shares of Tredegar by 5.2% in the 4th quarter. Gamco Investors INC. ET AL now owns 6,302,684 shares of the basic materials company’s stock worth $45,253,000 after acquiring an additional 311,833 shares during the period. Marshall Wace LLP acquired a new stake in Tredegar in the fourth quarter valued at $1,427,000. Millennium Management LLC lifted its position in shares of Tredegar by 716.3% during the 4th quarter. Millennium Management LLC now owns 195,704 shares of the basic materials company’s stock valued at $1,405,000 after acquiring an additional 171,729 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Tredegar by 34.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 598,785 shares of the basic materials company’s stock worth $4,299,000 after buying an additional 154,735 shares in the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tredegar in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

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.