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

Key Points

• Tredegar Corporation's stock price exceeded its 200-day moving average during trading, reaching a high of $8.32 before last trading at $7.19.
• Wall Street Zen downgraded Tredegar from a "buy" to a "hold" rating, reflecting a more cautious outlook from analysts.
• Insider selling occurred, with major shareholders John D. Gottwald and William M. Gottwald offloading shares, reducing their ownership by approximately 0.9% each.

Shares of Tredegar Corporation (NYSE:TG - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.08 and traded as high as $8.32. Tredegar shares last traded at $7.19, with a volume of 260,814 shares trading hands.

Wall Street Analyst Weigh In

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

Tredegar Stock Down 11.6%

The firm has a 50 day moving average price of $8.74 and a two-hundred day moving average price of $8.08. The company has a market cap of $250.94 million, a price-to-earnings ratio of -3.80 and a beta of 0.83.

Tredegar (NYSE:TG - Get Free Report) last released its earnings results on Friday, August 8th. The basic materials company reported $0.05 EPS for the quarter. Tredegar had a positive return on equity of 4.27% and a negative net margin of 9.51%. The business had revenue of $180.50 million during the quarter.

Insider Activity at Tredegar

In related news, major shareholder John D. Gottwald sold 7,168 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $8.43, for a total transaction of $60,426.24. Following the completion of the sale, the insider owned 781,507 shares of the company's stock, valued at $6,588,104.01. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder William M. Gottwald sold 7,051 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $8.43, for a total value of $59,439.93. Following the sale, the insider directly owned 781,508 shares of the company's stock, valued at $6,588,112.44. This represents a 0.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,298 shares of company stock valued at $207,169 in the last ninety days. 5.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bailard Inc. bought a new position in Tredegar in the second quarter worth approximately $272,000. Geode Capital Management LLC boosted its holdings in Tredegar by 0.3% in the second quarter. Geode Capital Management LLC now owns 589,275 shares of the basic materials company's stock worth $5,187,000 after acquiring an additional 1,506 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in Tredegar by 112.9% in the second quarter. Ritholtz Wealth Management now owns 83,411 shares of the basic materials company's stock worth $734,000 after acquiring an additional 44,224 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Tredegar in the second quarter worth approximately $413,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Tredegar in the second quarter valued at approximately $169,000. Institutional investors own 79.24% of the company's stock.

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.

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