Tredegar (NYSE:TG) Major Shareholder Sells $93,461.76 in Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 10,944 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.54, for a total value of $93,461.76. Following the sale, the insider directly owned 734,004 shares of the company’s stock, valued at approximately $6,268,394.16. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Tredegar Stock Performance

Shares of Tredegar stock traded down $0.14 during trading hours on Wednesday, hitting $7.96. The company’s stock had a trading volume of 59,117 shares, compared to its average volume of 97,426. The stock has a market cap of $277.89 million, a price-to-earnings ratio of -4.21 and a beta of 0.78. Tredegar Corporation has a twelve month low of $6.25 and a twelve month high of $9.43. The firm has a fifty day moving average of $7.66 and a 200-day moving average of $8.14.

Tredegar (NYSE:TG) last issued its quarterly earnings data on Friday, November 7th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter. Tredegar had a negative net margin of 9.51% and a positive return on equity of 4.17%. The firm had revenue of $194.94 million for the quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TG. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tredegar in a report on Wednesday, October 8th. Wall Street Zen upgraded Tredegar from a “hold” rating to a “strong-buy” rating in a research report on Saturday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its holdings in Tredegar by 531.0% during the 3rd 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 period. BNP Paribas Financial Markets increased its stake in shares of Tredegar by 53.2% during the third quarter. BNP Paribas Financial Markets now owns 5,273 shares of the basic materials company’s stock worth $42,000 after buying an additional 1,830 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Tredegar by 225.3% in the 2nd 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 in the last quarter. Citadel Advisors LLC lifted its position in shares of Tredegar by 163.7% during the 3rd quarter. Citadel Advisors LLC now owns 11,850 shares of the basic materials company’s stock worth $95,000 after purchasing an additional 30,450 shares during the last quarter. Finally, Prelude Capital Management LLC acquired a new position in shares of Tredegar during the third quarter worth $105,000. 79.24% of the stock is owned by institutional investors and hedge funds.

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.