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 business's stock in a transaction dated 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 of the company's stock, valued at $6,588,112.44. The trade was a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Tredegar Price Performance

NYSE:TG traded up $0.07 during midday trading on Friday, hitting $8.23. The company's stock had a trading volume of 13,524 shares, compared to its average volume of 81,995. Tredegar Corporation has a fifty-two week low of $5.30 and a fifty-two week high of $9.43. The firm's 50 day moving average is $8.77 and its 200-day moving average is $8.08. The firm has a market cap of $287.22 million, a P/E ratio of -4.90 and a beta of 0.83.

Tredegar (NYSE:TG - Get Free Report) last announced its earnings results on Thursday, May 8th. The basic materials company reported $0.10 earnings per share (EPS) 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 during the quarter.

Institutional Trading of Tredegar

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

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.

About Tredegar

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.