Tredegar (NYSE:TG) Stock Rating Lowered by StockNews.com

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

Tredegar Stock Performance

Shares of Tredegar stock opened at $7.32 on Thursday. The stock has a market cap of $251.42 million, a PE ratio of -9.26 and a beta of 0.75. The business has a fifty day simple moving average of $7.71 and a 200-day simple moving average of $7.46. The company has a quick ratio of 0.42, a current ratio of 0.79 and a debt-to-equity ratio of 0.13. Tredegar has a 12 month low of $3.98 and a 12 month high of $9.22.

Tredegar (NYSE:TG) last released its quarterly earnings data on Wednesday, March 12th. The basic materials company reported $0.06 earnings per share (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%.

Hedge Funds Weigh In On Tredegar

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

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.