Tredegar Corporation $TG Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC cut its holdings in Tredegar Corporation (NYSE:TG) by 9.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,326 shares of the basic materials company’s stock after selling 3,815 shares during the quarter. DAVENPORT & Co LLC owned 0.10% of Tredegar worth $311,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Tredegar by 1,131.8% in the 1st quarter. GAMMA Investing LLC now owns 10,495 shares of the basic materials company’s stock worth $81,000 after acquiring an additional 9,643 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Tredegar by 25.9% during the first quarter. MetLife Investment Management LLC now owns 15,268 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 3,145 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in shares of Tredegar in the first quarter valued at about $131,000. AQR Capital Management LLC increased its stake in shares of Tredegar by 31.4% during the first quarter. AQR Capital Management LLC now owns 17,158 shares of the basic materials company’s stock worth $132,000 after purchasing an additional 4,097 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Tredegar during the 1st quarter worth about $144,000. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Insider Transactions at Tredegar

In related news, major shareholder John D. Gottwald sold 16,086 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $8.01, for a total transaction of $128,848.86. Following the completion of the sale, the insider directly owned 759,811 shares in the company, valued at approximately $6,086,086.11. This trade represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder William M. Gottwald sold 16,087 shares of Tredegar stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $8.01, for a total transaction of $128,856.87. Following the transaction, the insider directly owned 759,810 shares in the company, valued at $6,086,078.10. This trade represents a 2.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,485 shares of company stock valued at $577,626 in the last three months. 5.95% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tredegar in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Tredegar Price Performance

TG stock opened at $7.59 on Monday. Tredegar Corporation has a 1 year low of $6.45 and a 1 year high of $9.43. The firm has a market capitalization of $264.66 million, a PE ratio of -4.01 and a beta of 0.78. The business has a 50 day simple moving average of $7.83 and a 200-day simple moving average of $8.12.

Tredegar (NYSE:TG) last announced its quarterly earnings data on Friday, August 8th. The basic materials company reported $0.05 EPS for the quarter. The firm had revenue of $180.50 million for the quarter. Tredegar had a positive return on equity of 4.17% and a negative net margin of 9.51%.

Tredegar Company Profile

Tredegar Corporation manufactures and sells aluminum extrusions, polyethylene (PE) films, and plastic and polyester films in the United States and internationally. It operates through three segments: Aluminum Extrusions, PE Films, and Flexible Packaging Films. The Aluminum Extrusions segment produces soft and medium strength alloyed aluminum extrusions, custom fabricated and finished aluminum extrusions for the building and construction, automotive and transportation, consumer durables, machinery and equipment, electrical and renewable energy, and distribution markets; and manufactures mill, anodized, and painted and alloyed aluminum extrusions to fabricators and distributors.