Tredegar Corporation (NYSE:TG) Major Shareholder Sells $60,426.24 in Stock

Key Points

• Major shareholder John D. Gottwald sold 7,168 shares of Tredegar Corporation stock for approximately $60,426.24, resulting in a 0.91% decrease in his position.
• Tredegar's stock price dropped 1.7% to $8.26, with the company having a market cap of approximately $288.26 million.
• Wall Street analysts recently downgraded Tredegar shares from a "buy" rating to a "hold" rating, reflecting potential caution in the stock's future performance.

Tredegar Corporation (NYSE:TG - Get Free Report) major shareholder John D. Gottwald sold 7,168 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $8.43, for a total transaction of $60,426.24. Following the sale, the insider owned 781,507 shares in the company, valued at approximately $6,588,104.01. The trade was a 0.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Tredegar Stock Down 1.7%

TG traded down $0.15 on Monday, hitting $8.26. The company had a trading volume of 81,452 shares, compared to its average volume of 82,300. The company has a market cap of $288.26 million, a PE ratio of -4.91 and a beta of 0.83. Tredegar Corporation has a 12-month low of $4.87 and a 12-month high of $9.43. The business's fifty day simple moving average is $8.78 and its 200 day simple moving average is $8.08.

Tredegar (NYSE:TG - Get Free Report) last released its earnings results on Thursday, May 8th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter. The firm had revenue of $164.73 million during the quarter. Tredegar had a negative net margin of 8.35% and a positive return on equity of 9.28%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TG. Central Pacific Bank Trust Division bought a new position in Tredegar during the 1st quarter worth about $46,000. Occudo Quantitative Strategies LP bought a new position in Tredegar during the 4th quarter worth about $78,000. Price T Rowe Associates Inc. MD bought a new position in Tredegar during the 4th quarter worth about $80,000. GAMMA Investing LLC grew its holdings in Tredegar by 1,131.8% during the 1st quarter. GAMMA Investing LLC now owns 10,495 shares of the basic materials company's stock worth $81,000 after acquiring an additional 9,643 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Tredegar by 25.9% during the 1st quarter. MetLife Investment Management LLC now owns 15,268 shares of the basic materials company's stock worth $118,000 after acquiring an additional 3,145 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Tredegar from a "buy" rating to a "hold" rating in a research report on Friday, May 9th.

Tredegar Company Profile

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.

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