Tredegar (NYSE:TG) Major Shareholder Sells $284,048.00 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 35,506 shares of Tredegar stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $8.00, for a total transaction of $284,048.00. Following the completion of the sale, the insider owned 325,620 shares of the company’s stock, valued at $2,604,960. This trade represents a 9.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Tredegar Stock Up 0.9%

Shares of NYSE TG opened at $8.03 on Friday. The firm has a market cap of $280.57 million, a price-to-earnings ratio of 8.36 and a beta of 0.75. Tredegar Corporation has a 52-week low of $6.25 and a 52-week high of $10.53. The business’s 50 day moving average is $7.46 and its two-hundred day moving average is $7.91.

Tredegar (NYSE:TG) last released its quarterly earnings results 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 company had revenue of $216.24 million for the quarter. During the same quarter last year, the company earned $0.05 earnings per share.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Tredegar in the second quarter valued at approximately $19,151,000. Gabelli Funds LLC increased its stake in Tredegar by 1.9% during the 1st quarter. Gabelli Funds LLC now owns 1,237,000 shares of the basic materials company’s stock worth $9,834,000 after buying an additional 23,000 shares during the period. Dimensional Fund Advisors LP increased its stake in 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 buying an additional 51,438 shares during the period. Renaissance Technologies LLC increased its stake in Tredegar by 33.2% during the 1st quarter. Renaissance Technologies LLC now owns 195,400 shares of the basic materials company’s stock worth $1,553,000 after buying an additional 48,708 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Tredegar during the 2nd quarter worth approximately $903,000. Hedge funds and other institutional investors own 79.24% of the company’s stock.

About Tredegar

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.