Tredegar (NYSE:TG) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Shares of Tredegar Corporation (NYSE:TG - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.94 and traded as high as $9.23. Tredegar shares last traded at $9.10, with a volume of 55,568 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Tredegar from a "buy" rating to a "hold" rating in a report on Friday, May 9th.

Tredegar Stock Up 0.3%

The firm's 50 day simple moving average is $8.59 and its 200 day simple moving average is $7.94. The company has a market capitalization of $317.77 million, a PE ratio of -5.42 and a beta of 0.83.

Tredegar (NYSE:TG - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The basic materials company reported $0.10 EPS for the quarter. The company had revenue of $164.73 million during the quarter. Tredegar had a negative net margin of 8.35% and a positive return on equity of 9.28%.

Institutional Trading of Tredegar

Several institutional investors and hedge funds have recently made changes to their positions in TG. Bank of America Corp DE lifted its position in shares of Tredegar by 691.9% during the fourth quarter. Bank of America Corp DE now owns 2,893,980 shares of the basic materials company's stock worth $22,226,000 after purchasing an additional 2,528,530 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Tredegar by 10.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 5,623,809 shares of the basic materials company's stock valued at $43,191,000 after acquiring an additional 513,415 shares in the last quarter. Nuveen LLC bought a new stake in shares of Tredegar in the first quarter valued at about $1,854,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Tredegar by 190.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 217,954 shares of the basic materials company's stock valued at $1,678,000 after acquiring an additional 142,822 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Tredegar by 35.0% in the fourth quarter. American Century Companies Inc. now owns 503,066 shares of the basic materials company's stock valued at $3,864,000 after acquiring an additional 130,291 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors.

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.

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