Key Points
- Major shareholder William Gottwald sold 35,506 Tredegar shares at an average price of $8.00, generating $284,048. His remaining stake fell 9.83% to 325,620 shares.
- Tredegar reported quarterly EPS of $0.18 on revenue of $216.24 million, compared with $0.05 EPS in the same quarter last year.
- The stock carries a consensus “Hold” rating, while institutional investors and hedge funds own approximately 79.24% of Tredegar’s shares.
Tredegar Corporation (NYSE:TG - Get Free Report) major shareholder William Gottwald sold 35,506 shares of the firm's stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $8.00, for a total value of $284,048.00. Following the completion of the sale, the insider directly owned 325,620 shares of the company's stock, valued at approximately $2,604,960. This represents a 9.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Tredegar Stock Performance
Shares of TG stock opened at $8.03 on Wednesday. Tredegar Corporation has a fifty-two week low of $6.25 and a fifty-two week high of $10.53. The firm has a market capitalization of $280.60 million, a price-to-earnings ratio of 8.36 and a beta of 0.75. The stock's 50-day simple moving average is $7.46 and its 200-day simple moving average is $7.91.
Tredegar (NYSE:TG - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter. The firm 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 quarter last year, the company earned $0.05 EPS.
Wall Street Analyst Weigh In
Separately, Weiss Ratings raised shares of Tredegar from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".
View Our Latest Analysis on TG
Hedge Funds Weigh In On Tredegar
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Tredegar in the 2nd quarter worth $19,151,000. Gabelli Funds LLC lifted its position in Tredegar by 1.9% during the 1st quarter. Gabelli Funds LLC now owns 1,237,000 shares of the basic materials company's stock worth $9,834,000 after acquiring an additional 23,000 shares during the period. Dimensional Fund Advisors LP lifted its position in Tredegar by 4.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,127,926 shares of the basic materials company's stock worth $8,966,000 after acquiring an additional 51,438 shares during the period. Renaissance Technologies LLC grew its stake in Tredegar by 33.2% during the 1st quarter. Renaissance Technologies LLC now owns 195,400 shares of the basic materials company's stock valued at $1,553,000 after purchasing an additional 48,708 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Tredegar during the 2nd quarter valued at about $903,000. 79.24% of the stock is owned by institutional investors and hedge funds.
About Tredegar
(
Get Free Report)
Tredegar Corporation (NYSE: TG) is a manufacturer of specialty plastic films. Its products include polyethylene films used in personal care, household, medical, industrial and other consumer applications. The company's films are incorporated into products such as diapers, hygiene products, packaging and protective materials.
Tredegar has also operated flexible packaging film businesses, producing high-performance films for food, beverage, pharmaceutical and other packaged goods applications.
Further Reading
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