Tredegar (NYSE:TG) Major Shareholder Sells $284,048.00 in Stock

Key Points

• Major shareholder William Gottwald sold 35,506 Tredegar shares at an average price of $8.00, generating $284,048. Following the transaction, his holdings fell 9.83% to 325,620 shares.
• Tredegar shares rose 1.1% to $7.98, with the stock trading between a 12-month low of $6.25 and high of $10.53. The company reported quarterly EPS of $0.18 on revenue of $216.24 million.
• Institutional investors own 79.24% of Tredegar, while analyst sentiment remains neutral: the sole tracked analyst rates the stock Hold.

Tredegar Corporation (NYSE:TG - Get Free Report) major shareholder William Gottwald sold 35,506 shares of the firm's stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $8.00, for a total transaction of $284,048.00. Following the completion of the sale, the insider owned 325,620 shares of the company's stock, valued at $2,604,960. This trade represents a 9.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Tredegar Stock Up 1.1%

Shares of TG traded up $0.09 on Tuesday, reaching $7.98. The stock had a trading volume of 150,521 shares, compared to its average volume of 171,123. Tredegar Corporation has a twelve month low of $6.25 and a twelve month high of $10.53. The firm has a market capitalization of $278.82 million, a PE ratio of 8.31 and a beta of 0.75. The firm has a 50-day moving average of $7.45 and a 200 day moving average of $7.91.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in shares of Tredegar by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 108,875 shares of the basic materials company's stock valued at $866,000 after purchasing an additional 1,660 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Tredegar by 3.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 46,921 shares of the basic materials company's stock worth $373,000 after purchasing an additional 1,739 shares in the last quarter. Teton Advisors LLC grew its stake in shares of Tredegar by 2.7% in the 1st quarter. Teton Advisors LLC now owns 113,000 shares of the basic materials company's stock valued at $898,000 after buying an additional 3,000 shares during the period. NewEdge Advisors LLC grew its stake in shares of Tredegar by 36.9% in the 1st quarter. NewEdge Advisors LLC now owns 16,471 shares of the basic materials company's stock valued at $131,000 after buying an additional 4,441 shares during the period. Finally, Hillsdale Investment Management Inc. grew its stake in shares of Tredegar by 19.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 43,200 shares of the basic materials company's stock valued at $343,000 after buying an additional 7,000 shares during the period. Institutional investors and hedge funds own 79.24% of the company's stock.

Wall Street Analysts Forecast Growth

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

Tredegar Company Profile

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.

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