Insider Selling: Tredegar (NYSE:TG) Major Shareholder Sells 1,500 Shares of Stock

Key Points

• Gamco Investors, Inc., a major shareholder of Tredegar, sold 1,500 shares at an average price of $8.09, reducing their ownership by 18.75% to a total of 6,500 shares.
• Tredegar's stock price traded down by 1.2% to $8.13, with recent trading volumes also below average at 63,451 shares exchanged.
• Institutional investors hold 79.24% of Tredegar's stock, with notable increases in holdings from firms like Tower Research Capital and GAMMA Investing.

Tredegar Corporation (NYSE:TG - Get Free Report) major shareholder Gamco Investors, Inc. Et Al sold 1,500 shares of Tredegar stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $8.09, for a total value of $12,135.00. Following the completion of the sale, the insider directly owned 6,500 shares in the company, valued at approximately $52,585. This represents a 18.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Tredegar Stock Performance

NYSE:TG traded down $0.05 during mid-day trading on Friday, hitting $8.12. The stock had a trading volume of 436,989 shares, compared to its average volume of 71,830. Tredegar Corporation has a twelve month low of $6.45 and a twelve month high of $9.43. The stock has a market cap of $283.31 million, a price-to-earnings ratio of -4.30 and a beta of 0.82. The company's 50 day simple moving average is $8.14 and its 200 day simple moving average is $8.07.

Tredegar (NYSE:TG - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter. Tredegar had a negative net margin of 9.51% and a positive return on equity of 4.17%. The firm had revenue of $180.50 million during the quarter.

Institutional Trading of Tredegar

A number of hedge funds and other institutional investors have recently modified their holdings of TG. Osaic Holdings Inc. lifted its position in shares of Tredegar by 130.0% in the 2nd quarter. Osaic Holdings Inc. now owns 13,988 shares of the basic materials company's stock worth $123,000 after purchasing an additional 7,907 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Tredegar by 225.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,889 shares of the basic materials company's stock worth $61,000 after purchasing an additional 4,771 shares in the last quarter. Gate City Capital Management LLC boosted its position in shares of Tredegar by 113.5% during the 2nd quarter. Gate City Capital Management LLC now owns 260,088 shares of the basic materials company's stock worth $2,289,000 after purchasing an additional 138,278 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Tredegar by 19.9% during the 2nd quarter. Jane Street Group LLC now owns 22,462 shares of the basic materials company's stock worth $198,000 after purchasing an additional 3,722 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in shares of Tredegar by 1.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 5,893,407 shares of the basic materials company's stock worth $51,862,000 after purchasing an additional 107,627 shares in the last quarter. Institutional investors own 79.24% of the company's stock.

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.