Tredegar Corporation (NYSE:TG) Major Shareholder William M. Gottwald Sells 7,051 Shares

Key Points

• William M. Gottwald, a major shareholder of Tredegar Corporation, sold 7,051 shares at an average price of $8.43, totaling approximately $59,440, reducing his ownership by 0.89%.
• Tredegar's stock dipped by 1.7% to $8.26 following the insider's sale, with a market cap of $288.26 million.
• Wall Street analysts downgraded Tredegar's rating from "buy" to "hold," reflecting concerns about the company's performance amid a negative net margin of 8.35%.

Tredegar Corporation (NYSE:TG - Get Free Report) major shareholder William M. Gottwald sold 7,051 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $8.43, for a total value of $59,439.93. Following the transaction, the insider owned 781,508 shares in the company, valued at $6,588,112.44. This trade represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Down 1.7%

NYSE TG traded down $0.15 during trading hours on Monday, hitting $8.26. The company had a trading volume of 81,452 shares, compared to its average volume of 82,300. Tredegar Corporation has a fifty-two week low of $4.87 and a fifty-two week high of $9.43. The business has a fifty day simple moving average of $8.78 and a 200-day simple moving average of $8.08. The firm has a market cap of $288.26 million, a P/E ratio of -4.91 and a beta of 0.83.

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Tredegar

Several large investors have recently added to or reduced their stakes in TG. Barclays PLC raised its stake in Tredegar by 1.1% during the 4th quarter. Barclays PLC now owns 135,241 shares of the basic materials company's stock valued at $1,038,000 after acquiring an additional 1,414 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Tredegar by 25.9% during the first quarter. MetLife Investment Management LLC now owns 15,268 shares of the basic materials company's stock valued at $118,000 after purchasing an additional 3,145 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Tredegar by 25.2% during the fourth quarter. Wells Fargo & Company MN now owns 15,935 shares of the basic materials company's stock valued at $122,000 after purchasing an additional 3,204 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Tredegar by 4.5% during the first quarter. Bank of New York Mellon Corp now owns 76,074 shares of the basic materials company's stock valued at $586,000 after purchasing an additional 3,278 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Tredegar by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,109,365 shares of the basic materials company's stock valued at $8,520,000 after purchasing an additional 3,403 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.