Tredegar (NYSE:TG) Major Shareholder John Gottwald Sells 33,333 Shares of Stock

Key Points

• Major shareholder John Gottwald sold 33,333 Tredegar shares at an average price of $8.03, generating approximately $267,664. His remaining stake fell 10.24% to 292,287 shares.
• Tredegar shares traded up 0.9% to $8.03, with the company reporting quarterly earnings of $0.18 per share on revenue of $216.24 million.
• Institutional investors own 79.24% of Tredegar, while the stock carries a consensus “Hold” rating from analysts.

Tredegar Corporation (NYSE:TG - Get Free Report) major shareholder John Gottwald sold 33,333 shares of the business's stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $8.03, for a total transaction of $267,663.99. Following the transaction, the insider owned 292,287 shares of the company's stock, valued at approximately $2,347,064.61. This represents a 10.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Tredegar Stock Up 0.9%

NYSE TG traded up $0.07 during trading on Thursday, reaching $8.03. 243,565 shares of the stock traded hands, compared to its average volume of 172,981. Tredegar Corporation has a fifty-two week low of $6.25 and a fifty-two week high of $10.53. The firm has a market cap of $280.57 million, a price-to-earnings ratio of 8.36 and a beta of 0.75. The stock's 50-day moving average price is $7.46 and its 200 day moving average price is $7.91.

Tredegar (NYSE:TG - Get Free Report) last posted its earnings results on Friday, August 7th. The basic materials company reported $0.18 earnings per share for the quarter. The company had revenue of $216.24 million for 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 business posted $0.05 earnings per share.

Institutional Investors Weigh In On Tredegar

Several large investors have recently modified their holdings of TG. Corient Private Wealth LP acquired a new stake in shares of Tredegar during the second quarter worth about $82,000. NewEdge Advisors LLC lifted its holdings in shares of Tredegar by 36.9% during the 1st quarter. NewEdge Advisors LLC now owns 16,471 shares of the basic materials company's stock valued at $131,000 after purchasing an additional 4,441 shares in the last quarter. Ieq Capital LLC acquired a new position in shares of Tredegar in the 2nd quarter valued at approximately $152,000. Man Group plc acquired a new position in shares of Tredegar in the 2nd quarter valued at approximately $190,000. Finally, Deutsche Bank AG acquired a new position in shares of Tredegar in the 2nd quarter valued at approximately $205,000. 79.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Tredegar from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. One analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has a consensus rating of "Hold".

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.

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.