Tredegar (NYSE:TG) Shares Pass Above 200-Day Moving Average – Here’s Why

Tredegar Corporation (NYSE:TG)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.97 and traded as high as $8.15. Tredegar shares last traded at $8.1150, with a volume of 169,352 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated 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, Tredegar currently has an average rating of “Sell”.

Tredegar Stock Down 2.2%

The firm has a fifty day simple moving average of $8.57 and a 200-day simple moving average of $7.97. The company has a market cap of $275.13 million, a PE ratio of 8.24 and a beta of 0.63.

Tredegar (NYSE:TG) last announced its earnings results on Wednesday, March 11th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter. The firm had revenue of $184.07 million during the quarter. Tredegar had a return on equity of 12.74% and a net margin of 4.62%.

Insider Transactions at Tredegar

In related news, major shareholder James T. Gottwald sold 28,787 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $8.99, for a total transaction of $258,795.13. Following the completion of the sale, the insider owned 541,446 shares in the company, valued at $4,867,599.54. This represents a 5.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder John D. Gottwald sold 54,268 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $8.70, for a total transaction of $472,131.60. Following the transaction, the insider directly owned 665,816 shares in the company, valued at $5,792,599.20. The trade was a 7.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 390,991 shares of company stock worth $3,451,532. Insiders own 5.95% of the company’s stock.

Hedge Funds Weigh In On Tredegar

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in Tredegar by 31.4% during the 1st quarter. AQR Capital Management LLC now owns 17,158 shares of the basic materials company’s stock valued at $132,000 after acquiring an additional 4,097 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Tredegar in the first quarter valued at approximately $144,000. Geode Capital Management LLC raised its stake in shares of Tredegar by 0.3% during the second quarter. Geode Capital Management LLC now owns 589,275 shares of the basic materials company’s stock worth $5,187,000 after purchasing an additional 1,506 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Tredegar by 4.8% during the second quarter. Rhumbline Advisers now owns 44,096 shares of the basic materials company’s stock worth $388,000 after purchasing an additional 2,021 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Tredegar by 1.9% during the second quarter. Gamco Investors INC. ET AL now owns 5,893,407 shares of the basic materials company’s stock worth $51,862,000 after purchasing an additional 107,627 shares during the period. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Tredegar Company Profile

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.