Tredegar (NYSE:TG) Major Shareholder William Gottwald Sells 54,269 Shares

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 54,269 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $8.70, for a total transaction of $472,140.30. Following the completion of the transaction, the insider directly owned 665,815 shares in the company, valued at $5,792,590.50. This trade represents a 7.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Tredegar Price Performance

Shares of NYSE:TG opened at $8.74 on Tuesday. The stock has a market cap of $305.04 million, a price-to-earnings ratio of -5.53 and a beta of 0.67. The company has a 50 day moving average of $7.74 and a 200-day moving average of $7.84. Tredegar Corporation has a one year low of $6.25 and a one year high of $9.43.

Tredegar (NYSE:TG) last announced its quarterly earnings data on Friday, November 7th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter. The firm had revenue of $194.94 million for the quarter. Tredegar had a negative net margin of 7.75% and a positive return on equity of 8.64%.

Analyst Ratings Changes

Several equities analysts have weighed in on TG shares. Wall Street Zen raised Tredegar from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tredegar in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Tredegar presently has an average rating of “Sell”.

Hedge Funds Weigh In On Tredegar

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its stake in Tredegar by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 83,787 shares of the basic materials company’s stock worth $673,000 after purchasing an additional 4,288 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Tredegar in the third quarter valued at approximately $713,000. Prelude Capital Management LLC bought a new stake in shares of Tredegar during the third quarter worth $105,000. Citadel Advisors LLC raised its holdings in shares of Tredegar by 163.7% during the third quarter. Citadel Advisors LLC now owns 11,850 shares of the basic materials company’s stock worth $95,000 after acquiring an additional 30,450 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Tredegar by 53.2% in the 3rd 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. Institutional investors own 79.24% of the company’s stock.

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.