StockNews.com Downgrades Tredegar (NYSE:TG) to Hold

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

Tredegar Stock Down 0.1 %

Shares of TG stock opened at $7.71 on Thursday. The stock’s 50 day simple moving average is $7.66 and its 200 day simple moving average is $6.43. Tredegar has a twelve month low of $3.98 and a twelve month high of $9.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.42 and a current ratio of 0.79. The company has a market capitalization of $264.92 million, a price-to-earnings ratio of -9.76 and a beta of 0.84.

Institutional Trading of Tredegar

A number of institutional investors and hedge funds have recently modified their holdings of the company. Gladius Capital Management LP acquired a new position in Tredegar in the 3rd quarter valued at $40,000. XTX Topco Ltd acquired a new stake in shares of Tredegar in the second quarter valued at about $49,000. AQR Capital Management LLC bought a new position in shares of Tredegar in the second quarter worth about $49,000. FMR LLC increased its stake in shares of Tredegar by 161.5% in the third quarter. FMR LLC now owns 9,445 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 5,833 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Tredegar during the 3rd quarter worth about $74,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Tredegar Company Profile

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.