Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells $43,422.28 in Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 4,814 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $9.02, for a total transaction of $43,422.28. Following the completion of the transaction, the insider directly owned 524,624 shares of the company’s stock, valued at approximately $4,732,108.48. This represents a 0.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Tredegar Trading Up 4.2%

Shares of Tredegar stock traded up $0.38 on Monday, hitting $9.56. 173,848 shares of the company traded hands, compared to its average volume of 165,489. Tredegar Corporation has a 12-month low of $6.25 and a 12-month high of $9.60. The company has a market cap of $333.78 million, a P/E ratio of -6.05 and a beta of 0.65. The firm’s 50-day simple moving average is $8.29 and its 200 day simple moving average is $7.90.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Gamco Investors INC. ET AL increased its stake in shares of Tredegar by 5.2% in the fourth quarter. Gamco Investors INC. ET AL now owns 6,302,684 shares of the basic materials company’s stock worth $45,253,000 after buying an additional 311,833 shares during the period. Vanguard Group Inc. increased its position in shares of Tredegar by 8.4% in the third quarter. Vanguard Group Inc. now owns 1,512,840 shares of the basic materials company’s stock valued at $12,148,000 after acquiring an additional 117,298 shares during the period. Gabelli Funds LLC raised its stake in shares of Tredegar by 3.9% during the fourth quarter. Gabelli Funds LLC now owns 1,214,000 shares of the basic materials company’s stock valued at $8,717,000 after acquiring an additional 45,452 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Tredegar by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 642,115 shares of the basic materials company’s stock worth $4,611,000 after purchasing an additional 21,320 shares during the period. Finally, State Street Corp boosted its holdings in shares of Tredegar by 1.9% during the fourth quarter. State Street Corp now owns 610,289 shares of the basic materials company’s stock worth $4,382,000 after purchasing an additional 11,205 shares during the period. Institutional investors own 79.24% of the company’s stock.

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.