Tredegar (NYSE:TG) Rating Increased to Buy at upgraded shares of Tredegar (NYSE:TGFree Report) from a hold rating to a buy rating in a research note published on Friday morning.

Tredegar Trading Down 0.5 %

Shares of Tredegar stock opened at $6.46 on Friday. Tredegar has a 12-month low of $3.98 and a 12-month high of $7.89. The company has a current ratio of 0.73, a quick ratio of 0.37 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $5.96 and a 200 day simple moving average of $5.22.

Tredegar (NYSE:TGGet Free Report) last posted its earnings results on Thursday, May 9th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $175.74 million during the quarter. Tredegar had a negative net margin of 14.79% and a negative return on equity of 1.01%.

Institutional Trading of Tredegar

A number of hedge funds and other institutional investors have recently made changes to their positions in TG. Acadian Asset Management LLC increased its holdings in shares of Tredegar by 2.8% in the first quarter. Acadian Asset Management LLC now owns 180,588 shares of the basic materials company’s stock valued at $1,176,000 after purchasing an additional 4,864 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Tredegar by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,369,270 shares of the basic materials company’s stock valued at $8,928,000 after buying an additional 9,674 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in shares of Tredegar in the 1st quarter valued at $128,000. Heritage Wealth Advisors raised its position in shares of Tredegar by 8,309.6% during the first quarter. Heritage Wealth Advisors now owns 20,183 shares of the basic materials company’s stock worth $132,000 after acquiring an additional 19,943 shares during the last quarter. Finally, HB Wealth Management LLC lifted its stake in shares of Tredegar by 29.8% during the first quarter. HB Wealth Management LLC now owns 30,005 shares of the basic materials company’s stock valued at $196,000 after acquiring an additional 6,888 shares during the period. 79.24% of the stock is currently owned by institutional investors and hedge funds.

About Tredegar

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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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