Tredegar (NYSE:TG) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Tredegar crossed above its 200-day moving average ($8.07)
• Analyst sentiment is negative: Weiss Ratings reissued a "sell (d-)" and the stock carries a MarketBeat consensus rating of "Sell."
• Insider selling was significant: insiders sold a total of 205,034 shares worth about $1.85 million in the last quarter, leaving insiders with 2.50% ownership while institutions hold 79.24%.

Tredegar Corporation (NYSE:TG - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.07 and traded as high as $9.97. Tredegar shares last traded at $9.2840, with a volume of 578,105 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Tredegar in a report on Monday, April 20th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of "Sell".

Tredegar Price Performance

The stock has a market cap of $322.71 million, a price-to-earnings ratio of 9.67 and a beta of 0.69. The company's 50 day moving average is $8.50 and its 200 day moving average is $8.07.

Tredegar (NYSE:TG - Get Free Report) last issued its earnings results on Wednesday, March 11th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter. Tredegar had a net margin of 4.62% and a return on equity of 12.74%. The company had revenue of $184.07 million during the quarter.

Insider Buying and Selling

In related news, major shareholder John D. Gottwald sold 4,814 shares of the firm's stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $9.02, for a total value of $43,422.28. Following the completion of the transaction, the insider directly owned 524,624 shares of the company's stock, valued at $4,732,108.48. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder James T. Gottwald sold 28,787 shares of Tredegar stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $8.99, for a total value of $258,795.13. Following the transaction, the insider directly owned 541,446 shares of the company's stock, valued at approximately $4,867,599.54. This represents a 5.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 205,034 shares of company stock worth $1,846,253 in the last quarter. Company insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TG. Janney Montgomery Scott LLC boosted its position in shares of Tredegar by 3.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 46,921 shares of the basic materials company's stock worth $373,000 after buying an additional 1,739 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Tredegar by 23.1% during the 4th quarter. Hsbc Holdings PLC now owns 15,362 shares of the basic materials company's stock valued at $110,000 after acquiring an additional 2,880 shares in the last quarter. NewEdge Advisors LLC purchased a new position in Tredegar during the 4th quarter valued at about $86,000. XTX Topco Ltd acquired a new position in Tredegar during the fourth quarter worth about $160,000. Finally, Occudo Quantitative Strategies LP acquired a new position in Tredegar during the fourth quarter worth about $161,000. Institutional investors and hedge funds own 79.24% of the company's stock.

Tredegar Company Profile

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.

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