Tredegar (NYSE:TG) Share Price Breaks Below 50 Day Moving Average - Here's What Happened

Key Points

• Tredegar shares fell below their 50-day moving average of $7.37, touching $7.21 before last trading at $7.245. The 200-day moving average stood at $8.05.
• Weiss Ratings upgraded Tredegar from “hold (C-)” to “hold (C),” while the stock’s overall analyst rating remains “Hold.”
• Insiders sold a combined 193,293 shares worth about $1.55 million over the past three months. In its latest reported quarter, Tredegar posted earnings of $0.18 per share on revenue of $216.24 million.

Shares of Tredegar Corporation (NYSE:TG - Get Free Report) passed 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.

Analyst Ratings Changes

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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold".

Tredegar Stock Performance

The firm has a market capitalization of $253.14 million, a price-to-earnings ratio of 7.55 and a beta of 0.76. The firm's 50 day simple moving average is $7.37 and its 200 day simple moving average is $8.05.

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

Insider Buying and Selling

In other Tredegar news, major shareholder William M. Gottwald sold 33,334 shares of the firm's stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $8.03, for a total value of $267,672.02. Following the sale, the insider directly owned 292,286 shares of the company's stock, valued at approximately $2,347,056.58. This trade represents a 10.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James T. Gottwald sold 7,719 shares of the business's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $8.02, for a total transaction of $61,906.38. Following the completion of the sale, the insider directly owned 369,710 shares of the company's stock, valued at approximately $2,965,074.20. The trade was a 2.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 193,293 shares of company stock valued at $1,553,386. Corporate insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On Tredegar

Several large investors have recently bought and sold shares of the company. Corient Private Wealth LP purchased a new stake in shares of Tredegar during the second quarter worth $82,000. Susquehanna International Group LLP raised its position in shares of Tredegar by 116.2% during the 2nd 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 period. Hsbc Holdings PLC lifted its stake in shares of Tredegar by 145.3% in the 2nd quarter. Hsbc Holdings PLC now owns 30,559 shares of the basic materials company's stock valued at $242,000 after purchasing an additional 18,103 shares during the last quarter. Empowered Funds LLC acquired a new position in Tredegar in the second quarter valued at about $630,000. Finally, Bank of America Corp DE acquired a new position in shares of Tredegar in the 2nd quarter worth approximately $508,000. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

About Tredegar

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.

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