Tredegar (NYSE:TG) Stock Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Tredegar's stock recently crossed above its 200-day moving average
• Despite the technical move, the stock carries a consensus "Sell" rating (Weiss Ratings restated a "sell (d-)" on Jan. 21), while fundamentals show a market cap of $312.5M and a P/E of 9.36.
• Notable insider selling occurred: John D. and William M. Gottwald each sold ~54.3k shares at $8.70, and insiders sold 363,218 shares (~$3.21M) over the past three months, even as several institutional investors increased positions and institutions own ~79.24% of the stock.

Tredegar Corporation (NYSE:TG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.01 and traded as high as $9.00. Tredegar shares last traded at $8.99, with a volume of 249,844 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Tredegar in a research note on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, Tredegar currently has a consensus rating of "Sell".

Tredegar Stock Up 3.5%

The stock has a market capitalization of $312.49 million, a price-to-earnings ratio of 9.36 and a beta of 0.69. The business's 50 day simple moving average is $8.47 and its 200-day simple moving average is $8.01.

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

Insider Buying and Selling at Tredegar

In other news, major shareholder John D. Gottwald sold 54,268 shares of Tredegar stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $8.70, for a total value of $472,131.60. Following the transaction, the insider owned 665,816 shares in the company, valued at approximately $5,792,599.20. This trade represents a 7.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder William M. Gottwald sold 54,269 shares of Tredegar stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $8.70, for a total value of $472,140.30. Following the completion of the transaction, the insider owned 665,815 shares in the company, valued at approximately $5,792,590.50. The trade was a 7.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 363,218 shares of company stock worth $3,213,518 over the last three months. Corporate insiders own 2.50% of the company's stock.

Institutional Trading of Tredegar

Large investors have recently bought and sold shares of the business. Gamco Investors INC. ET AL raised its stake in Tredegar by 5.2% during the fourth quarter. Gamco Investors INC. ET AL now owns 6,302,684 shares of the basic materials company's stock worth $45,253,000 after acquiring an additional 311,833 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Tredegar in the 4th quarter valued at approximately $1,427,000. Millennium Management LLC boosted its stake in shares of Tredegar by 716.3% in the 4th quarter. Millennium Management LLC now owns 195,704 shares of the basic materials company's stock valued at $1,405,000 after purchasing an additional 171,729 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tredegar by 34.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 598,785 shares of the basic materials company's stock valued at $4,299,000 after purchasing an additional 154,735 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Tredegar by 417.1% during the 4th quarter. Jane Street Group LLC now owns 162,735 shares of the basic materials company's stock valued at $1,168,000 after purchasing an additional 131,264 shares during the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

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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