Tredegar (NYSE:TG) Major Shareholder William Gottwald Sells 33,334 Shares of Stock

Tredegar Corporation (NYSE:TG) major shareholder William Gottwald sold 33,334 shares of the stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $8.03, for a total value of $267,672.02. Following the completion of the transaction, the insider owned 292,286 shares in the company, valued at approximately $2,347,056.58. The trade was a 10.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Tredegar Trading Up 0.9%

TG stock traded up $0.07 during trading on Thursday, hitting $8.03. 243,565 shares of the company’s stock were exchanged, compared to its average volume of 172,981. Tredegar Corporation has a 52-week low of $6.25 and a 52-week high of $10.53. The business has a 50-day moving average price of $7.46 and a two-hundred day moving average price of $7.91. The stock has a market capitalization of $280.57 million, a price-to-earnings ratio of 8.36 and a beta of 0.75.

Tredegar (NYSE:TG) last announced its quarterly earnings results on Friday, August 7th. The basic materials company reported $0.18 earnings per share for the quarter. Tredegar had a net margin of 4.26% and a return on equity of 14.52%. The firm had revenue of $216.24 million during the quarter. During the same period last year, the firm earned $0.05 earnings per share.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Tredegar from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Hold rating. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TG. Corient Private Wealth LP purchased a new position in Tredegar in the second quarter valued at about $82,000. Susquehanna International Group LLP boosted its stake in shares of Tredegar by 116.2% during the 2nd quarter. Susquehanna International Group LLP now owns 36,581 shares of the basic materials company’s stock worth $291,000 after acquiring an additional 19,664 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Tredegar by 145.3% during the 2nd quarter. Hsbc Holdings PLC now owns 30,559 shares of the basic materials company’s stock worth $242,000 after acquiring an additional 18,103 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Tredegar in the 2nd quarter worth approximately $630,000. Finally, Bank of America Corp DE acquired a new stake in shares of Tredegar in the 2nd quarter worth approximately $508,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

About Tredegar

Tredegar Corporation (NYSE: TG) is a manufacturer of specialty plastic films. Its products include polyethylene films used in personal care, household, medical, industrial and other consumer applications. The company’s films are incorporated into products such as diapers, hygiene products, packaging and protective materials.

Tredegar has also operated flexible packaging film businesses, producing high-performance films for food, beverage, pharmaceutical and other packaged goods applications.