Key Points
- Major shareholder William Gottwald sold 7,718 Tredegar shares at an average price of $8.02, generating $61,898.36 and reducing his ownership by 2.04%.
- Tredegar reported improved quarterly results, with earnings of $0.18 per share versus $0.05 a year earlier and revenue of $216.24 million. Despite the stronger performance, analysts maintain a consensus “Hold” rating.
- Tredegar shares opened at $7.79, down 2.7%, while institutional investors own approximately 79.24% of the company’s stock.
Tredegar Corporation (NYSE:TG - Get Free Report) major shareholder William Gottwald sold 3,472 shares of Tredegar stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $8.01, for a total value of $27,810.72. Following the sale, the insider directly owned 366,238 shares of the company's stock, valued at approximately $2,933,566.38. This trade represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Trading Down 2.7%
Shares of TG opened at $7.79 on Thursday. The stock has a market cap of $272.04 million, a P/E ratio of 8.11 and a beta of 0.76. Tredegar Corporation has a 1 year low of $6.25 and a 1 year high of $10.53. The stock's 50-day moving average price is $7.77 and its two-hundred day moving average price is $8.26.
Tredegar (NYSE:TG - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The basic materials company reported $0.18 earnings per share for the quarter. The business had revenue of $216.24 million for the quarter. Tredegar had a net margin of 4.26% and a return on equity of 14.52%. During the same period in the previous year, the business earned $0.05 EPS.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a "hold (c-)" rating on shares of Tredegar in a research report on Friday, August 7th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold".
Check Out Our Latest Report on TG
Institutional Trading of Tredegar
A number of large investors have recently bought and sold shares of TG. BlackRock Inc. acquired a new stake in shares of Tredegar during the second quarter worth $19,151,000. Gamco Investors INC. ET AL raised its position in Tredegar by 5.2% in the 4th quarter. Gamco Investors INC. ET AL now owns 6,302,684 shares of the basic materials company's stock valued at $45,253,000 after buying an additional 311,833 shares during the last quarter. Marshall Wace LLP bought a new stake in Tredegar in the 4th quarter valued at approximately $1,427,000. Millennium Management LLC boosted its position in Tredegar by 716.3% during the 4th quarter. Millennium Management LLC now owns 195,704 shares of the basic materials company's stock worth $1,405,000 after acquiring an additional 171,729 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Tredegar by 34.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 598,785 shares of the basic materials company's stock worth $4,299,000 after acquiring an additional 154,735 shares in the last quarter. 79.24% of the stock is owned by institutional investors.
About Tredegar
(
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.
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