Key Points
- Major shareholder William Gottwald sold 4,318 Tredegar shares at an average price of $8.12, generating $35,062.16. His remaining stake totaled 361,920 shares, a 1.18% reduction in ownership.
- Tredegar reported quarterly earnings of $0.18 per share on revenue of $216.24 million, compared with $0.05 EPS in the same quarter a year earlier.
- The stock opened at $7.97, with a 52-week range of $6.25 to $10.53, while analysts maintained an overall “Hold” rating. Institutional investors own 79.24% of the company.
Tredegar Corporation (NYSE:TG - Get Free Report) major shareholder William Gottwald sold 4,318 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $8.12, for a total value of $35,062.16. Following the sale, the insider directly owned 361,920 shares in the company, valued at $2,938,790.40. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Tredegar Stock Performance
NYSE TG opened at $7.97 on Friday. Tredegar Corporation has a twelve month low of $6.25 and a twelve month high of $10.53. The stock has a market cap of $278.47 million, a price-to-earnings ratio of 8.30 and a beta of 0.76. The firm's 50 day moving average price is $7.77 and its two-hundred day moving average price is $8.25.
Tredegar (NYSE:TG - Get Free Report) last issued its earnings results on Friday, August 7th. The basic materials company reported $0.18 earnings per share for the quarter. The company had revenue of $216.24 million for the quarter. Tredegar had a return on equity of 14.52% and a net margin of 4.26%.During the same quarter in the prior year, the company earned $0.05 EPS.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a "hold (c-)" rating on shares of Tredegar in a research note on Friday, August 7th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Tredegar has an average rating of "Hold".
Read Our Latest Stock Analysis on TG
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP grew its holdings in shares of Tredegar by 116.2% during the second quarter. Susquehanna International Group LLP now owns 36,581 shares of the basic materials company's stock worth $291,000 after purchasing an additional 19,664 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Tredegar by 145.3% during the 2nd quarter. Hsbc Holdings PLC now owns 30,559 shares of the basic materials company's stock worth $242,000 after acquiring an additional 18,103 shares during the last quarter. Empowered Funds LLC acquired a new stake in Tredegar in the 2nd quarter valued at about $630,000. Bank of America Corp DE bought a new position in shares of Tredegar in the second quarter worth about $508,000. Finally, Man Group plc bought a new stake in shares of Tredegar during the second quarter valued at approximately $190,000. Institutional investors own 79.24% of the company's stock.
Tredegar Company Profile
(
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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