Tredegar (NYSE:TG) Share Price Crosses 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 changing hands.

Analyst Upgrades and Downgrades

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

Tredegar Stock Performance

The company has a market cap of $255.07 million, a price-to-earnings ratio of -3.87 and a beta of 0.83. The business's 50 day moving average price is $8.66 and its 200-day moving average price is $8.07.

Tredegar (NYSE:TG - Get Free Report) last posted its earnings results on Friday, August 8th. The basic materials company reported $0.05 earnings per share for the quarter. Tredegar had a negative net margin of 9.51% and a positive return on equity of 4.17%. The business had revenue of $180.50 million for the quarter.

Insider Activity

In other news, major shareholder John D. Gottwald sold 7,168 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $8.43, for a total value of $60,426.24. Following the sale, the insider owned 781,507 shares of the company's stock, valued at approximately $6,588,104.01. This represents a 0.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder William M. Gottwald sold 7,051 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $8.43, for a total transaction of $59,439.93. Following the completion of the sale, the insider directly owned 781,508 shares in the company, valued at approximately $6,588,112.44. The trade was a 0.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,298 shares of company stock worth $207,169. 5.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TG. JPMorgan Chase & Co. lifted its position in Tredegar by 100.3% during the 4th quarter. JPMorgan Chase & Co. now owns 136,663 shares of the basic materials company's stock valued at $1,050,000 after purchasing an additional 68,423 shares during the period. Wells Fargo & Company MN lifted its position in Tredegar by 25.2% during the 4th quarter. Wells Fargo & Company MN now owns 15,935 shares of the basic materials company's stock valued at $122,000 after purchasing an additional 3,204 shares during the period. Barclays PLC lifted its position in Tredegar by 1.1% during the 4th quarter. Barclays PLC now owns 135,241 shares of the basic materials company's stock valued at $1,038,000 after purchasing an additional 1,414 shares during the period. Dimensional Fund Advisors LP lifted its position in Tredegar by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,109,365 shares of the basic materials company's stock valued at $8,520,000 after purchasing an additional 3,403 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new position in Tredegar during the 4th quarter valued at about $80,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

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.