Tredegar Corporation (NYSE:TG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.29 and traded as high as $8.39. Tredegar shares last traded at $7.8570, with a volume of 302,646 shares trading hands.
Analyst Ratings Changes
Separately, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Tredegar in a report on Friday. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold".
Check Out Our Latest Research Report on Tredegar
Tredegar Stock Performance
The stock's 50 day simple moving average is $7.76 and its 200 day simple moving average is $8.29. The firm has a market cap of $274.52 million, a PE ratio of 8.18 and a beta of 0.76.
Tredegar (NYSE:TG - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The basic materials company reported $0.18 earnings per share for the quarter. Tredegar had a net margin of 4.26% and a return on equity of 14.77%. The firm had revenue of $216.24 million for the quarter. During the same quarter last year, the business posted $0.05 EPS.
Insider Buying and Selling at Tredegar
In other Tredegar news, major shareholder James T. Gottwald sold 15,808 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $8.04, for a total transaction of $127,096.32. Following the sale, the insider owned 435,065 shares in the company, valued at $3,497,922.60. This trade represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder William M. Gottwald sold 20,145 shares of Tredegar stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $8.16, for a total value of $164,383.20. Following the sale, the insider directly owned 408,767 shares of the company's stock, valued at approximately $3,335,538.72. This trade represents a 4.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 153,338 shares of company stock worth $1,236,609 over the last 90 days. Corporate insiders own 2.50% of the company's stock.
Institutional Trading of Tredegar
Hedge funds and other institutional investors have recently bought and sold shares of the company. Ieq Capital LLC bought a new position in Tredegar during the second quarter valued at approximately $152,000. BlackRock Inc. purchased a new position in shares of Tredegar during the second quarter worth approximately $19,151,000. Deutsche Bank AG bought a new stake in shares of Tredegar in the 2nd quarter worth approximately $205,000. Bank of New York Mellon Corp bought a new stake in shares of Tredegar in the 2nd quarter worth approximately $903,000. Finally, Empowered Funds LLC boosted its stake in shares of Tredegar by 2,164.8% in the 1st quarter. Empowered Funds LLC now owns 32,387 shares of the basic materials company's stock valued at $257,000 after purchasing an additional 30,957 shares in the last quarter. Hedge funds and other institutional investors own 79.24% of the company's stock.
About Tredegar
(
Get Free Report)
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.
Further Reading
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