Tredegar (NYSE:TG) Stock Breaks Below 50 Day Moving Average – Time to Sell?

Tredegar Corporation (NYSE:TG) crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $7.37 and traded as low as $7.21. Tredegar shares last traded at $7.2450, with a volume of 165,179 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Tredegar from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. One analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, Tredegar currently has a consensus rating of “Hold”.

Tredegar Trading Down 3.8%

The firm has a market capitalization of $253.14 million, a PE ratio of 7.55 and a beta of 0.76. The company has a fifty day moving average price of $7.37 and a two-hundred day moving average price of $8.05.

Tredegar (NYSE:TG) last announced its earnings results on Friday, August 7th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter. Tredegar had a net margin of 4.26% and a return on equity of 14.52%. The business had revenue of $216.24 million for the quarter. During the same quarter last year, the business posted $0.05 earnings per share.

Insider Buying and Selling at Tredegar

In other Tredegar news, major shareholder William M. Gottwald sold 35,506 shares of the company’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $8.00, for a total transaction of $284,048.00. Following the completion of the transaction, the insider owned 325,620 shares in the company, valued at approximately $2,604,960. This represents a 9.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder James T. Gottwald sold 7,719 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $8.02, for a total transaction of $61,906.38. Following the transaction, the insider directly owned 369,710 shares of the company’s stock, valued at $2,965,074.20. This represents a 2.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 193,293 shares of company stock valued at $1,553,386. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tredegar

Several institutional investors have recently modified their holdings of TG. Corient Private Wealth LP acquired a new stake in Tredegar in the second quarter valued at $82,000. Susquehanna International Group LLP raised its position in shares of Tredegar by 116.2% in the second quarter. Susquehanna International Group LLP now owns 36,581 shares of the basic materials company’s stock valued at $291,000 after buying an additional 19,664 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of 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 purchasing an additional 18,103 shares during the period. Empowered Funds LLC purchased a new position in Tredegar during the second quarter worth about $630,000. Finally, Bank of America Corp DE acquired a new stake in shares of Tredegar in the second quarter worth approximately $508,000. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Tredegar Company Profile

Tredegar Corporation is a manufacturer of specialty films and aluminum extrusions. The company develops and produces polyethylene and other plastic films used in personal care, hygiene, medical, food packaging, household and industrial applications. Its flexible packaging products are designed to provide barrier, sealing and performance characteristics for packaged goods.

Through its aluminum operations, including Bonnell Aluminum, Tredegar produces extruded and fabricated aluminum components for building and construction, transportation, automotive, consumer durables and other industrial markets.