Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells $61,906.38 in Stock

Key Points

• Major shareholder James Gottwald sold 7,719 Tredegar shares at an average price of $8.02, generating $61,906.38. His remaining stake totaled 369,710 shares, a 2.05% reduction.
• Tredegar shares fell 0.1% to $7.99, while the company reported quarterly earnings of $0.18 per share on revenue of $216.24 million, compared with $0.05 EPS in the prior-year quarter.
• Analysts maintain a “Hold” view, and institutional investors own 79.24% of the stock; BlackRock recently initiated a position while several other firms increased their holdings.

Tredegar Corporation (NYSE:TG - Get Free Report) major shareholder James Gottwald sold 7,719 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $8.02, for a total value of $61,906.38. Following the transaction, the insider directly owned 369,710 shares of the company's stock, valued at approximately $2,965,074.20. This trade represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Tredegar Stock Down 0.1%

Shares of NYSE:TG traded down $0.01 during midday trading on Wednesday, reaching $7.99. 50,404 shares of the company traded hands, compared to its average volume of 169,035. Tredegar Corporation has a 12 month low of $6.25 and a 12 month high of $10.53. The firm's fifty day moving average price is $7.78 and its two-hundred day moving average price is $8.27. The firm has a market capitalization of $279.17 million, a price-to-earnings ratio of 8.32 and a beta of 0.76.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Tredegar in a report on Friday, August 7th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Tredegar currently has an average rating of "Hold".

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TG. BlackRock Inc. bought a new stake in shares of Tredegar during the second quarter valued at approximately $19,151,000. Gamco Investors INC. ET AL lifted its position in shares of Tredegar by 5.2% in the 4th quarter. Gamco Investors INC. ET AL now owns 6,302,684 shares of the basic materials company's stock worth $45,253,000 after purchasing an additional 311,833 shares during the period. Marshall Wace LLP bought a new position in shares of Tredegar during the fourth quarter valued at approximately $1,427,000. Millennium Management LLC lifted its stake in shares of Tredegar by 716.3% during the 4th quarter. Millennium Management LLC now owns 195,704 shares of the basic materials company's stock worth $1,405,000 after purchasing an additional 171,729 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Tredegar by 34.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 598,785 shares of the basic materials company's stock valued at $4,299,000 after buying an additional 154,735 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors.

Tredegar Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source