Tredegar (NYSE:TG) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Tredegar Corporation (NYSE:TG - Get Free Report) crossed 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 trading hands.

Wall Street Analysts Forecast Growth

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

Tredegar Stock Performance

The stock has a 50 day simple moving average of $8.59 and a two-hundred day simple moving average of $7.94. The firm has a market cap of $316.72 million, a PE ratio of -5.40 and a beta of 0.83.

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

Institutional Trading of Tredegar

A number of institutional investors have recently made changes to their positions in TG. GAMMA Investing LLC lifted its holdings in Tredegar by 1,131.8% in the 1st quarter. GAMMA Investing LLC now owns 10,495 shares of the basic materials company's stock valued at $81,000 after purchasing an additional 9,643 shares in the last quarter. Northern Trust Corp boosted its position in Tredegar by 3.8% during the fourth quarter. Northern Trust Corp now owns 233,068 shares of the basic materials company's stock worth $1,790,000 after acquiring an additional 8,459 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Tredegar by 100.3% during the fourth quarter. JPMorgan Chase & Co. now owns 136,663 shares of the basic materials company's stock worth $1,050,000 after acquiring an additional 68,423 shares during the last quarter. Bank of America Corp DE boosted its position in 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 acquiring an additional 2,528,530 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Tredegar by 33.3% during the fourth quarter. Deutsche Bank AG now owns 26,872 shares of the basic materials company's stock worth $206,000 after acquiring an additional 6,719 shares during the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

Tredegar Company Profile

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.