Tredegar (NYSE:TG) Major Shareholder William Gottwald Sells 3,472 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 3,472 shares of Tredegar stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $8.01, for a total value of $27,810.72. Following the completion of the transaction, the insider directly owned 366,238 shares in the company, valued at approximately $2,933,566.38. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major 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 2.7%

Shares of Tredegar stock opened at $7.79 on Thursday. Tredegar Corporation has a 1 year low of $6.25 and a 1 year high of $10.53. The company’s fifty day simple moving average is $7.77 and its 200-day simple moving average is $8.26. The company has a market cap of $272.04 million, a price-to-earnings ratio of 8.11 and a beta of 0.76.

Tredegar (NYSE:TG) last issued its quarterly earnings results on Friday, August 7th. The basic materials company reported $0.18 earnings per share 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 company earned $0.05 earnings per share.

Institutional Trading of Tredegar

Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its stake in Tredegar by 531.0% during the third 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 last quarter. Torren Management LLC bought a new stake in Tredegar during the 4th quarter worth approximately $32,000. BNP Paribas Financial Markets increased its holdings in 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 boosted its stake in 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 purchasing an additional 4,771 shares in the last quarter. Finally, Heron Bay Capital Management bought a new stake in shares of Tredegar during the fourth quarter worth $76,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated 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, Tredegar currently has a consensus rating of “Hold”.

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.