Tredegar Corporation (NYSE:TG - Get Free Report) major shareholder William Gottwald sold 24,823 shares of the company's stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $8.52, for a total value of $211,491.96. Following the completion of the sale, the insider owned 640,992 shares in the company, valued at approximately $5,461,251.84. This represents a 3.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Tredegar Price Performance
NYSE:TG opened at $8.74 on Tuesday. The company has a 50 day moving average price of $7.74 and a 200-day moving average price of $7.84. Tredegar Corporation has a 1-year low of $6.25 and a 1-year high of $9.43. The firm has a market cap of $305.04 million, a price-to-earnings ratio of -5.53 and a beta of 0.67.
Tredegar (NYSE:TG - Get Free Report) last released its quarterly earnings results on Friday, November 7th. The basic materials company reported $0.26 EPS for the quarter. Tredegar had a negative net margin of 7.75% and a positive return on equity of 8.64%. The company had revenue of $194.94 million for the quarter.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on TG. Wall Street Zen raised Tredegar from a "hold" rating to a "strong-buy" rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tredegar in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of "Sell".
View Our Latest Stock Report on Tredegar
Institutional Investors Weigh In On Tredegar
Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Tredegar by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 83,787 shares of the basic materials company's stock valued at $673,000 after acquiring an additional 4,288 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Tredegar in the third quarter worth approximately $713,000. Prelude Capital Management LLC purchased a new stake in shares of Tredegar during the third quarter worth approximately $105,000. Citadel Advisors LLC increased its position in shares of Tredegar by 163.7% during the third quarter. Citadel Advisors LLC now owns 11,850 shares of the basic materials company's stock worth $95,000 after purchasing an additional 30,450 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Tredegar by 53.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,273 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 1,830 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.
Tredegar Company Profile
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Get Free Report)
Tredegar Corporation is a diversified manufacturer specializing in high-performance plastic films and aluminum extrusions. Headquartered in Richmond, Virginia, the company operates through two primary segments—Films and Manufactured Products—serving a broad range of industries that include flexible packaging, medical devices, electronics, building and construction. Tredegar's operations focus on delivering tailored solutions that meet demanding specifications for barrier properties, film strength and extrusion tolerances.
The Films segment produces a variety of polyolefin films, including cast and blown polyethylene, BOPP (biaxially oriented polypropylene), barrier films and specialty medical-grade films.
Further Reading
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