Tredegar (NYSE:TG) Major Shareholder William Gottwald Sells 15,809 Shares

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 15,809 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $8.04, for a total transaction of $127,104.36. Following the sale, the insider owned 435,064 shares of the company’s stock, valued at $3,497,914.56. This represents a 3.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Tredegar Price Performance

TG stock opened at $8.01 on Friday. The company has a fifty day moving average price of $8.52 and a 200 day moving average price of $8.26. Tredegar Corporation has a 12 month low of $6.25 and a 12 month high of $10.53. The company has a market cap of $280.37 million, a price-to-earnings ratio of 9.53 and a beta of 0.74.

Tredegar (NYSE:TG) last released its quarterly earnings results on Friday, May 8th. The basic materials company reported $0.15 EPS for the quarter. Tredegar had a net margin of 3.89% and a return on equity of 12.91%. The firm had revenue of $186.49 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Tredegar from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Hedge Funds Weigh In On Tredegar

A number of large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Tredegar by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 589,275 shares of the basic materials company’s stock worth $5,187,000 after buying an additional 1,506 shares during the last quarter. Bank of New York Mellon Corp raised its position in Tredegar by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 108,875 shares of the basic materials company’s stock worth $866,000 after buying an additional 1,660 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Tredegar by 3.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 46,921 shares of the basic materials company’s stock worth $373,000 after buying an additional 1,739 shares during the last quarter. BNP Paribas Financial Markets raised its position in 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 buying an additional 1,830 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Tredegar by 4.8% during the 2nd quarter. Rhumbline Advisers now owns 44,096 shares of the basic materials company’s stock worth $388,000 after buying an additional 2,021 shares during the last quarter. Hedge funds and other 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.