Tredegar Corporation $TG Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. reduced its stake in Tredegar Corporation (NYSE:TG) by 23.2% during the 1st quarter, Holdings Channel reports. The fund owned 99,291 shares of the basic materials company’s stock after selling 29,968 shares during the period. Goldman Sachs Group Inc.’s holdings in Tredegar were worth $765,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division acquired a new position in Tredegar in the 1st quarter valued at about $46,000. GAMMA Investing LLC grew its holdings in shares of Tredegar by 1,131.8% during the first quarter. GAMMA Investing LLC now owns 10,495 shares of the basic materials company’s stock worth $81,000 after buying an additional 9,643 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Tredegar by 25.9% in the first quarter. MetLife Investment Management LLC now owns 15,268 shares of the basic materials company’s stock valued at $118,000 after buying an additional 3,145 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in shares of Tredegar during the first quarter valued at approximately $131,000. Finally, AQR Capital Management LLC lifted its stake in shares of Tredegar by 31.4% during the first quarter. AQR Capital Management LLC now owns 17,158 shares of the basic materials company’s stock valued at $132,000 after buying an additional 4,097 shares during the period. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Insider Activity

In other news, major shareholder John D. Gottwald sold 7,168 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $8.43, for a total transaction of $60,426.24. Following the completion of the transaction, the insider owned 781,507 shares of the company’s stock, valued at $6,588,104.01. This represents a 0.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder William M. Gottwald sold 7,051 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $8.43, for a total transaction of $59,439.93. Following the transaction, the insider owned 781,508 shares in the company, valued at approximately $6,588,112.44. The trade was a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,498 shares of company stock valued at $241,336 in the last 90 days. 5.80% of the stock is owned by company insiders.

Tredegar Stock Performance

TG stock opened at $8.02 on Wednesday. The company has a 50 day moving average price of $8.10 and a two-hundred day moving average price of $8.09. The stock has a market capitalization of $279.78 million, a P/E ratio of -4.24 and a beta of 0.82. Tredegar Corporation has a one year low of $6.45 and a one year high of $9.43.

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

About Tredegar

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.