Tredegar (NYSE:TG) Stock Price Passes Above 200 Day Moving Average of $5.58

Tredegar Co. (NYSE:TG) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.58 and traded as high as $6.12. Tredegar shares last traded at $6.03, with a volume of 58,537 shares changing hands.

Tredegar Price Performance

The company has a 50 day moving average of $5.69 and a 200-day moving average of $5.60. The firm has a market capitalization of $221.55 million, a P/E ratio of -2.16 and a beta of 0.89. The company has a current ratio of 0.78, a quick ratio of 0.41 and a debt-to-equity ratio of 0.13.

Tredegar (NYSE:TG) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.30 earnings per share (EPS) for the quarter. The business had revenue of $190.56 million during the quarter. Tredegar had a positive return on equity of 6.82% and a negative net margin of 10.56%.

Hedge Funds Weigh In On Tredegar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP lifted its position in shares of Tredegar by 5.9% during the 4th quarter. Trexquant Investment LP now owns 51,519 shares of the basic materials company’s stock worth $279,000 after buying an additional 2,891 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Tredegar by 3.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 94,353 shares of the basic materials company’s stock worth $452,000 after buying an additional 3,246 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Tredegar by 2.3% during the 2nd quarter. Acadian Asset Management LLC now owns 184,828 shares of the basic materials company’s stock worth $884,000 after buying an additional 4,240 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Tredegar by 2.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 190,293 shares of the basic materials company’s stock worth $912,000 after buying an additional 5,094 shares during the last quarter. Finally, HB Wealth Management LLC lifted its position in shares of Tredegar by 29.8% during the 1st quarter. HB Wealth Management LLC now owns 30,005 shares of the basic materials company’s stock worth $196,000 after buying an additional 6,888 shares during the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

About Tredegar

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.