Tredegar (NYSE:TG) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Tredegar Co. (NYSE:TG) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.76 and traded as high as $7.68. Tredegar shares last traded at $7.65, with a volume of 77,691 shares.

Analysts Set New Price Targets

Separately, StockNews.com lowered Tredegar from a “buy” rating to a “hold” rating in a research note on Tuesday, December 31st.

Tredegar Stock Up 3.1 %

The company has a market capitalization of $262.86 million, a P/E ratio of -9.68 and a beta of 0.81. The company has a current ratio of 0.79, a quick ratio of 0.42 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average price of $7.62 and a 200 day moving average price of $6.76.

Institutional Investors Weigh In On Tredegar

Institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Tredegar by 0.3% during the 3rd quarter. State Street Corp now owns 587,254 shares of the basic materials company’s stock worth $4,281,000 after buying an additional 1,930 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Tredegar by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 94,353 shares of the basic materials company’s stock worth $452,000 after acquiring an additional 3,246 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Tredegar by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 75,132 shares of the basic materials company’s stock valued at $548,000 after acquiring an additional 4,000 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Tredegar by 2.3% during the second quarter. Acadian Asset Management LLC now owns 184,828 shares of the basic materials company’s stock valued at $884,000 after acquiring an additional 4,240 shares in the last quarter. Finally, Gladius Capital Management LP acquired a new position in shares of Tredegar during the third quarter worth approximately $40,000. 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.