Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells 8,250 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 8,250 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $8.83, for a total transaction of $72,847.50. Following the completion of the sale, the insider owned 570,233 shares in the company, valued at approximately $5,035,157.39. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 0.2%

Shares of TG traded up $0.02 during trading on Thursday, reaching $9.04. 147,037 shares of the company traded hands, compared to its average volume of 165,446. Tredegar Corporation has a twelve month low of $6.25 and a twelve month high of $9.43. The stock has a market cap of $315.59 million, a PE ratio of -5.72 and a beta of 0.65. The stock has a 50-day simple moving average of $8.23 and a 200-day simple moving average of $7.87.

Hedge Funds Weigh In On Tredegar

A number of institutional investors and hedge funds have recently made changes to their positions in TG. Russell Investments Group Ltd. boosted its holdings in shares of Tredegar by 531.0% in the 3rd 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 purchased a new stake in Tredegar in the fourth quarter valued at $32,000. BNP Paribas Financial Markets boosted its stake in Tredegar by 53.2% in the third 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 boosted its stake in Tredegar by 225.3% in the second 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 in the last quarter. Finally, Heron Bay Capital Management purchased a new position in shares of Tredegar during the fourth quarter worth about $76,000. 79.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TG shares. Wall Street Zen upgraded Tredegar from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tredegar in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

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.