Tredegar (NYSE:TG) Major Shareholder William Gottwald Sells 12,007 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 12,007 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $8.99, for a total transaction of $107,942.93. Following the sale, the insider directly owned 529,438 shares in the company, valued at approximately $4,759,647.62. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Tredegar Stock Up 4.2%

Shares of TG stock opened at $9.57 on Tuesday. Tredegar Corporation has a 52 week low of $6.25 and a 52 week high of $9.66. The stock has a market capitalization of $334.09 million, a PE ratio of -6.06 and a beta of 0.63. The firm has a 50 day moving average of $8.33 and a two-hundred day moving average of $7.91.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Tredegar

A number of institutional investors and hedge funds have recently modified their holdings of TG. Russell Investments Group Ltd. raised its stake in Tredegar by 531.0% in the third quarter. Russell Investments Group Ltd. now owns 3,376 shares of the basic materials company’s stock valued at $27,000 after buying an additional 2,841 shares in the last quarter. Torren Management LLC acquired a new position in shares of Tredegar during the 4th quarter worth about $32,000. BNP Paribas Financial Markets boosted its position 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 worth $42,000 after acquiring an additional 1,830 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings 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 acquiring an additional 4,771 shares during the last quarter. Finally, Heron Bay Capital Management acquired a new stake in shares of Tredegar during the 4th quarter worth about $76,000. Institutional investors and hedge funds 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.