Tredegar (NYSE:TG) Major Shareholder John Gottwald Sells 54,268 Shares

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 54,268 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $8.70, for a total transaction of $472,131.60. Following the transaction, the insider directly owned 665,816 shares of the company’s stock, valued at $5,792,599.20. This represents a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Tredegar Trading Up 2.1%

Tredegar stock opened at $8.74 on Tuesday. The business’s 50 day simple moving average is $7.74 and its 200 day simple moving average is $7.84. Tredegar Corporation has a 12 month low of $6.25 and a 12 month high of $9.43. The company has a market cap of $305.04 million, a price-to-earnings ratio of -5.53 and a beta of 0.67.

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

Institutional Investors Weigh In On Tredegar

A number of institutional investors and hedge funds have recently modified their holdings of TG. Gate City Capital Management LLC boosted its position in shares of Tredegar by 113.5% in the second quarter. Gate City Capital Management LLC now owns 260,088 shares of the basic materials company’s stock valued at $2,289,000 after acquiring an additional 138,278 shares during the period. Teton Advisors LLC purchased a new stake in Tredegar in the 3rd quarter worth approximately $972,000. Vanguard Group Inc. boosted its holdings in Tredegar by 8.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,512,840 shares of the basic materials company’s stock valued at $12,148,000 after purchasing an additional 117,298 shares during the period. Gamco Investors INC. ET AL grew its position in shares of Tredegar by 1.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 5,893,407 shares of the basic materials company’s stock valued at $51,862,000 after purchasing an additional 107,627 shares in the last quarter. Finally, HB Wealth Management LLC bought a new position in shares of Tredegar in the third quarter worth $720,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.