Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells $19,649.00 in Stock

Tredegar Corporation (NYSE:TG) major shareholder John Gottwald sold 2,450 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $8.02, for a total value of $19,649.00. Following the completion of the transaction, the insider owned 757,360 shares of the company’s stock, valued at $6,074,027.20. This trade represents a 0.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Tredegar Price Performance

Shares of TG stock opened at $7.72 on Friday. The business has a fifty day moving average of $7.93 and a 200 day moving average of $8.12. The firm has a market capitalization of $269.18 million, a price-to-earnings ratio of -4.08 and a beta of 0.78. Tredegar Corporation has a 1 year low of $6.45 and a 1 year high of $9.43.

Tredegar (NYSE:TG) last announced its quarterly earnings results on Friday, August 8th. The basic materials company reported $0.05 earnings per share for the quarter. The company 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%.

Institutional Trading of Tredegar

Several institutional investors have recently made changes to their positions in TG. Tower Research Capital LLC TRC raised its position in Tredegar by 225.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 4,771 shares during the period. GAMMA Investing LLC grew its stake in shares of Tredegar by 1,131.8% during the first quarter. GAMMA Investing LLC now owns 10,495 shares of the basic materials company’s stock worth $81,000 after purchasing an additional 9,643 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Tredegar by 25.9% during the first quarter. MetLife Investment Management LLC now owns 15,268 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 3,145 shares in the last quarter. Osaic Holdings Inc. lifted its position in Tredegar by 130.0% in the second quarter. Osaic Holdings Inc. now owns 13,988 shares of the basic materials company’s stock valued at $123,000 after acquiring an additional 7,907 shares during the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new stake in Tredegar in the first quarter valued at $131,000. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tredegar in a research report on Saturday, September 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

About Tredegar

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.