Tredegar (NYSE:TG) Shares Cross Above 200-Day Moving Average - Here's Why

Tredegar Corporation (NYSE:TG - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.89 and traded as high as $9.21. Tredegar shares last traded at $9.21, with a volume of 78,426 shares.

Analysts Set New Price Targets

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

Tredegar Trading Up 1.1%

The stock has a market capitalization of $324.77 million, a P/E ratio of -5.54 and a beta of 0.83. The stock's fifty day moving average price is $8.49 and its two-hundred day moving average price is $7.91.

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

Institutional Investors Weigh In On Tredegar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in Tredegar during the 1st quarter valued at $509,000. Jane Street Group LLC bought a new stake in Tredegar during the 1st quarter valued at $144,000. AQR Capital Management LLC increased its position in Tredegar by 31.4% during the 1st quarter. AQR Capital Management LLC now owns 17,158 shares of the basic materials company's stock valued at $132,000 after purchasing an additional 4,097 shares during the period. Gamco Investors INC. ET AL increased its position in Tredegar by 2.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 5,785,780 shares of the basic materials company's stock valued at $44,551,000 after purchasing an additional 161,971 shares during the period. Finally, Gabelli Funds LLC increased its position in Tredegar by 3.3% during the 1st quarter. Gabelli Funds LLC now owns 1,097,215 shares of the basic materials company's stock valued at $8,449,000 after purchasing an additional 34,800 shares during the period. 79.24% of the stock is currently owned by institutional investors.

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.