Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells 19,409 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 19,409 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $9.13, for a total transaction of $177,204.17. Following the completion of the transaction, the insider owned 621,583 shares of the company’s stock, valued at $5,675,052.79. This trade represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Tredegar Price Performance

Shares of Tredegar stock traded up $0.08 during trading on Thursday, hitting $9.12. The stock had a trading volume of 75,099 shares, compared to its average volume of 172,850. Tredegar Corporation has a fifty-two week low of $6.25 and a fifty-two week high of $9.43. The firm has a market cap of $318.38 million, a P/E ratio of -5.77 and a beta of 0.65. The business has a fifty day moving average of $7.99 and a two-hundred day moving average of $7.85.

Institutional Investors Weigh In On Tredegar

Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its holdings in shares of Tredegar by 531.0% during the third quarter. Russell Investments Group Ltd. now owns 3,376 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 2,841 shares during the last quarter. Torren Management LLC acquired a new stake in Tredegar in the 4th quarter valued at about $32,000. BNP Paribas Financial Markets raised 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 worth $42,000 after purchasing an additional 1,830 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Tredegar by 225.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company’s stock worth $61,000 after buying an additional 4,771 shares in the last quarter. Finally, Citadel Advisors LLC increased its stake in shares of Tredegar by 163.7% in the 3rd quarter. Citadel Advisors LLC now owns 11,850 shares of the basic materials company’s stock valued at $95,000 after buying an additional 30,450 shares during the period. Institutional investors own 79.24% of the company’s stock.

Analyst Ratings Changes

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