Tredegar (NYSE:TG) Stock: Insider John Gottwald Sells 35,507 Shares

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 35,507 shares of the firm’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $8.00, for a total transaction of $284,056.00. Following the completion of the transaction, the insider owned 325,620 shares in the company, valued at approximately $2,604,960. The trade was a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Tredegar Stock Down 0.9%

Shares of TG stock opened at $7.97 on Thursday. 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 $278.47 million, a P/E ratio of 8.30 and a beta of 0.75. The business has a 50 day moving average of $7.46 and a two-hundred day moving average of $7.91.

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

Hedge Funds Weigh In On Tredegar

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Tredegar in the second quarter worth approximately $19,151,000. Gabelli Funds LLC increased its stake in shares of Tredegar by 1.9% in the first quarter. Gabelli Funds LLC now owns 1,237,000 shares of the basic materials company’s stock worth $9,834,000 after acquiring an additional 23,000 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Tredegar by 4.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,127,926 shares of the basic materials company’s stock worth $8,966,000 after purchasing an additional 51,438 shares in the last quarter. Renaissance Technologies LLC raised its position in Tredegar by 33.2% during the first quarter. Renaissance Technologies LLC now owns 195,400 shares of the basic materials company’s stock valued at $1,553,000 after acquiring an additional 48,708 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Tredegar during the 2nd quarter valued at $903,000. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Tredegar from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. One analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Tredegar Company Profile

Tredegar Corporation (NYSE: TG) is a manufacturer of specialty plastic films. Its products include polyethylene films used in personal care, household, medical, industrial and other consumer applications. The company’s films are incorporated into products such as diapers, hygiene products, packaging and protective materials.

Tredegar has also operated flexible packaging film businesses, producing high-performance films for food, beverage, pharmaceutical and other packaged goods applications.