Tredegar (NYSE:TG) Major Shareholder Sells $119,011.59 in Stock

Tredegar Corporation (NYSE:TG) major shareholder James Gottwald sold 13,887 shares of the business’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $8.57, for a total value of $119,011.59. Following the completion of the sale, the insider directly owned 720,084 shares of the company’s stock, valued at $6,171,119.88. This represents a 1.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Tredegar Stock Performance

Shares of Tredegar stock traded up $0.35 on Wednesday, reaching $8.23. The stock had a trading volume of 137,762 shares, compared to its average volume of 146,605. The business’s 50-day moving average price is $7.73 and its two-hundred day moving average price is $7.86. The stock has a market cap of $287.25 million, a P/E ratio of -5.21 and a beta of 0.67. Tredegar Corporation has a fifty-two week low of $6.25 and a fifty-two week high of $9.43.

Tredegar (NYSE:TG) last announced its earnings results on Friday, November 7th. The basic materials company reported $0.26 earnings per share for the quarter. The firm had revenue of $194.94 million during the quarter. Tredegar had a positive return on equity of 8.64% and a negative net margin of 7.75%.

Hedge Funds Weigh In On Tredegar

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in Tredegar by 531.0% during the 3rd 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 period. BNP Paribas Financial Markets grew its position in shares of Tredegar by 53.2% in 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 during the period. Tower Research Capital LLC TRC increased its stake in Tredegar by 225.3% during the 2nd 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. Citadel Advisors LLC lifted its stake in Tredegar by 163.7% in the third quarter. Citadel Advisors LLC now owns 11,850 shares of the basic materials company’s stock valued at $95,000 after buying an additional 30,450 shares in the last quarter. Finally, Prelude Capital Management LLC bought a new stake in shares of Tredegar during the third quarter worth $105,000. 79.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TG shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tredegar in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Tredegar from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

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.