Tredegar (NYSE:TG) Stock: Insider William Gottwald Sells 33,334 Shares

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 33,334 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $8.03, for a total value of $267,672.02. Following the transaction, the insider directly owned 292,286 shares of the company’s stock, valued at approximately $2,347,056.58. The trade was a 10.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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

Tredegar stock opened at $7.33 on Friday. The company’s fifty day moving average price is $7.44 and its 200 day moving average price is $7.91. Tredegar Corporation has a 1 year low of $6.25 and a 1 year high of $10.53. The stock has a market capitalization of $255.96 million, a P/E ratio of 7.63 and a beta of 0.75.

Tredegar (NYSE:TG) last posted its quarterly earnings data on Friday, August 7th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter. Tredegar had a net margin of 4.26% and a return on equity of 14.52%. The business had revenue of $216.24 million for the quarter. During the same period in the previous year, the business earned $0.05 earnings per share.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Tredegar from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, Tredegar presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TG. BlackRock Inc. purchased a new stake in Tredegar in the 2nd quarter valued at about $19,151,000. Gabelli Funds LLC lifted its position in Tredegar by 1.9% in the first quarter. Gabelli Funds LLC now owns 1,237,000 shares of the basic materials company’s stock valued at $9,834,000 after buying an additional 23,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Tredegar by 4.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,127,926 shares of the basic materials company’s stock worth $8,966,000 after buying an additional 51,438 shares during the period. Renaissance Technologies LLC boosted its stake in Tredegar by 33.2% during the first quarter. Renaissance Technologies LLC now owns 195,400 shares of the basic materials company’s stock worth $1,553,000 after buying an additional 48,708 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Tredegar in the second quarter valued at approximately $903,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

About Tredegar

Tredegar Corporation is a manufacturer of specialty films and aluminum extrusions. The company develops and produces polyethylene and other plastic films used in personal care, hygiene, medical, food packaging, household and industrial applications. Its flexible packaging products are designed to provide barrier, sealing and performance characteristics for packaged goods.

Through its aluminum operations, including Bonnell Aluminum, Tredegar produces extruded and fabricated aluminum components for building and construction, transportation, automotive, consumer durables and other industrial markets.