Tredegar (NYSE:TG) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Tredegar (NYSE:TG) from a buy rating to a hold rating in a research report released on Thursday morning.

Tredegar Stock Performance

Shares of NYSE:TG opened at $7.32 on Thursday. The firm has a market capitalization of $251.42 million, a PE ratio of -9.26 and a beta of 0.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.79 and a quick ratio of 0.42. The business has a 50-day moving average of $7.71 and a two-hundred day moving average of $7.46. Tredegar has a 12 month low of $3.98 and a 12 month high of $9.22.

Tredegar (NYSE:TG) last issued its quarterly earnings results on Wednesday, March 12th. The basic materials company reported $0.06 EPS for the quarter. The firm had revenue of $154.05 million during the quarter. Tredegar had a positive return on equity of 10.10% and a negative net margin of 3.84%.

Institutional Trading of Tredegar

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Occudo Quantitative Strategies LP acquired a new position in shares of Tredegar during the 4th quarter valued at $78,000. Deutsche Bank AG increased its position in shares of Tredegar by 33.3% during the 4th quarter. Deutsche Bank AG now owns 26,872 shares of the basic materials company’s stock valued at $206,000 after purchasing an additional 6,719 shares during the period. CastleKnight Management LP increased its position in shares of Tredegar by 137.5% during the 4th quarter. CastleKnight Management LP now owns 214,300 shares of the basic materials company’s stock valued at $1,646,000 after purchasing an additional 124,079 shares during the period. Bank of America Corp DE increased its position in shares of Tredegar by 691.9% during the 4th quarter. Bank of America Corp DE now owns 2,893,980 shares of the basic materials company’s stock valued at $22,226,000 after purchasing an additional 2,528,530 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Tredegar by 3.8% during the 4th quarter. Northern Trust Corp now owns 233,068 shares of the basic materials company’s stock worth $1,790,000 after acquiring an additional 8,459 shares in the last quarter. 79.24% of the stock is currently 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.