Tredegar (NYSE:TG) Downgraded by StockNews.com to “Hold”

Tredegar (NYSE:TG) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Tredegar Stock Down 0.1 %

TG stock opened at $7.71 on Thursday. 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 firm has a market cap of $264.92 million, a PE ratio of -9.76 and a beta of 0.84. Tredegar has a 1 year low of $3.98 and a 1 year high of $9.22. The company has a fifty day simple moving average of $7.65 and a 200 day simple moving average of $6.42.

Institutional Investors Weigh In On Tredegar

A number of large investors have recently added to or reduced their stakes in TG. Gabelli Funds LLC lifted its position in Tredegar by 26.9% during the 2nd quarter. Gabelli Funds LLC now owns 831,500 shares of the basic materials company’s stock worth $3,983,000 after acquiring an additional 176,091 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Tredegar by 66.5% during the 2nd quarter. American Century Companies Inc. now owns 368,376 shares of the basic materials company’s stock worth $1,765,000 after purchasing an additional 147,158 shares during the last quarter. Bank of Montreal Can bought a new stake in Tredegar during the 2nd quarter valued at approximately $685,000. HB Wealth Management LLC grew its holdings in Tredegar by 198.6% in the 2nd quarter. HB Wealth Management LLC now owns 89,580 shares of the basic materials company’s stock valued at $429,000 after buying an additional 59,575 shares during the last quarter. Finally, Minerva Advisors LLC increased its position in Tredegar by 3.4% in the 3rd quarter. Minerva Advisors LLC now owns 1,663,107 shares of the basic materials company’s stock worth $12,124,000 after buying an additional 55,357 shares during the period. Institutional investors own 79.24% of the company’s stock.

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.