Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells $472,140.30 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 54,269 shares of the stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $8.70, for a total transaction of $472,140.30. Following the sale, the insider owned 665,815 shares in the company, valued at $5,792,590.50. The trade was a 7.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major 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 NYSE TG traded up $0.17 during trading hours on Monday, hitting $8.73. 16,883 shares of the stock were exchanged, compared to its average volume of 171,450. The company’s fifty day simple moving average is $7.74 and its two-hundred day simple moving average is $7.84. Tredegar Corporation has a 1-year low of $6.25 and a 1-year high of $9.43. The company has a market cap of $304.59 million, a PE ratio of -5.52 and a beta of 0.67.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its holdings 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 worth $27,000 after purchasing an additional 2,841 shares in the last quarter. BNP Paribas Financial Markets increased its stake 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 acquiring an additional 1,830 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of 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 valued at $61,000 after acquiring an additional 4,771 shares during the period. Citadel Advisors LLC boosted its stake in Tredegar by 163.7% during the third quarter. Citadel Advisors LLC now owns 11,850 shares of the basic materials company’s stock worth $95,000 after acquiring an additional 30,450 shares in the last quarter. Finally, Prelude Capital Management LLC bought a new stake in Tredegar in the third quarter valued at $105,000. 79.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TG. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tredegar in a report on Wednesday. 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 analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus 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.