Tredegar Corporation (NYSE:TG) Major Shareholder Sells $79,144.24 in Stock

Key Points

• Major shareholder John D. Gottwald sold 9,118 shares of Tredegar Corporation stock for a total of $79,144.24, decreasing their ownership to 789,097 shares.
• Tredegar's stock price has shown a 1-year range between $4.87 and $9.43, currently trading at $8.26.
• Following recent earnings results that included a negative net margin of 8.35%, Wall Street Zen downgraded Tredegar from a "buy" to a "hold" rating.

Tredegar Corporation (NYSE:TG - Get Free Report) major shareholder John D. Gottwald sold 9,118 shares of the company's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $8.68, for a total value of $79,144.24. Following the transaction, the insider directly owned 789,097 shares in the company, valued at $6,849,361.96. This represents a 1.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Tredegar Price Performance

TG traded down $0.15 during trading on Monday, reaching $8.26. 81,452 shares of the stock were exchanged, compared to its average volume of 82,300. Tredegar Corporation has a 1 year low of $4.87 and a 1 year high of $9.43. The business's 50 day moving average price is $8.78 and its two-hundred day moving average price is $8.08. The company has a market capitalization of $288.26 million, a price-to-earnings ratio of -4.91 and a beta of 0.83.

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 for the quarter. The firm had revenue of $164.73 million for the quarter. Tredegar had a positive return on equity of 9.28% and a negative net margin of 8.35%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Tredegar

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in Tredegar by 691.9% in the 4th quarter. Bank of America Corp DE now owns 2,893,980 shares of the basic materials company's stock worth $22,226,000 after acquiring an additional 2,528,530 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Tredegar by 10.0% in the 4th quarter. Gamco Investors INC. ET AL now owns 5,623,809 shares of the basic materials company's stock worth $43,191,000 after acquiring an additional 513,415 shares during the period. Nuveen LLC purchased a new position in Tredegar in the 1st quarter worth approximately $1,854,000. Charles Schwab Investment Management Inc. boosted its holdings in Tredegar by 190.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 217,954 shares of the basic materials company's stock worth $1,678,000 after acquiring an additional 142,822 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Tredegar by 35.0% in the 4th quarter. American Century Companies Inc. now owns 503,066 shares of the basic materials company's stock worth $3,864,000 after acquiring an additional 130,291 shares during the period. 79.24% of the stock is owned by institutional investors and hedge funds.

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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