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

StockNews.com lowered shares of Tredegar (NYSE:TG) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Tredegar Trading Down 1.3 %

Shares of NYSE TG opened at $7.80 on Tuesday. Tredegar has a fifty-two week low of $3.98 and a fifty-two week high of $9.22. The firm has a market capitalization of $267.84 million, a P/E ratio of -9.87 and a beta of 0.81. 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 company’s 50 day simple moving average is $7.84 and its 200 day simple moving average is $7.34.

Institutional Investors Weigh In On Tredegar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL increased its stake in Tredegar by 10.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 5,623,809 shares of the basic materials company’s stock valued at $43,191,000 after purchasing an additional 513,415 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Tredegar by 691.9% in 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 buying an additional 2,528,530 shares during the period. Minerva Advisors LLC increased its position in shares of Tredegar by 3.4% in the 3rd quarter. Minerva Advisors LLC now owns 1,663,107 shares of the basic materials company’s stock valued at $12,124,000 after buying an additional 55,357 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Tredegar by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,109,365 shares of the basic materials company’s stock worth $8,520,000 after buying an additional 3,403 shares during the period. Finally, Gabelli Funds LLC lifted its holdings in Tredegar by 13.2% during the fourth quarter. Gabelli Funds LLC now owns 1,062,415 shares of the basic materials company’s stock worth $8,159,000 after acquiring an additional 124,115 shares in the last quarter. 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.