Tredegar (NYSE:TG) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Tredegar Corporation (NYSE:TG)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.21 and traded as high as $8.39. Tredegar shares last traded at $8.1950, with a volume of 258,875 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Tredegar from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Tredegar presently has an average rating of “Hold”.

Tredegar Price Performance

The stock has a market capitalization of $278.02 million, a PE ratio of 9.45 and a beta of 0.82. The business’s fifty day moving average price is $8.56 and its 200-day moving average price is $8.21.

Tredegar (NYSE:TG) last announced its earnings results on Friday, May 8th. The basic materials company reported $0.15 earnings per share for the quarter. The business had revenue of $186.49 million for the quarter. Tredegar had a net margin of 3.89% and a return on equity of 12.91%.

Insider Activity at Tredegar

In related news, major shareholder James T. Gottwald sold 28,787 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $8.99, for a total value of $258,795.13. Following the sale, the insider directly owned 541,446 shares of the company’s stock, valued at $4,867,599.54. This trade represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder John D. Gottwald sold 4,814 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $9.02, for a total transaction of $43,422.28. Following the completion of the sale, the insider directly owned 524,624 shares in the company, valued at $4,732,108.48. This represents a 0.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 120,170 shares of company stock valued at $1,076,100 over the last three months. 2.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tredegar

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in Tredegar by 0.3% in the second quarter. Geode Capital Management LLC now owns 589,275 shares of the basic materials company’s stock valued at $5,187,000 after purchasing an additional 1,506 shares in the last quarter. Bank of New York Mellon Corp grew its position in Tredegar by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 108,875 shares of the basic materials company’s stock valued at $866,000 after acquiring an additional 1,660 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Tredegar by 3.8% during the first quarter. Janney Montgomery Scott LLC now owns 46,921 shares of the basic materials company’s stock valued at $373,000 after acquiring an additional 1,739 shares during the last quarter. BNP Paribas Financial Markets grew its position in Tredegar by 53.2% during the third quarter. BNP Paribas Financial Markets now owns 5,273 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 1,830 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Tredegar by 4.8% during the second quarter. Rhumbline Advisers now owns 44,096 shares of the basic materials company’s stock valued at $388,000 after acquiring an additional 2,021 shares during the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

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.