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

Tredegar (NYSE:TG) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Tredegar Stock Performance

NYSE:TG opened at $7.88 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.42 and a current ratio of 0.79. Tredegar has a fifty-two week low of $3.98 and a fifty-two week high of $9.22. The business has a 50 day moving average price of $7.83 and a 200-day moving average price of $7.33. The firm has a market cap of $270.76 million, a PE ratio of -9.97 and a beta of 0.81.

Hedge Funds Weigh In On Tredegar

A number of hedge funds have recently modified their holdings of the company. Gladius Capital Management LP purchased a new stake in shares of Tredegar during the third quarter worth about $40,000. FMR LLC grew its position in shares of Tredegar by 161.5% in the 3rd quarter. FMR LLC now owns 9,445 shares of the basic materials company’s stock worth $69,000 after buying an additional 5,833 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Tredegar during the third quarter valued at approximately $74,000. Occudo Quantitative Strategies LP purchased a new position in shares of Tredegar during the fourth quarter valued at approximately $78,000. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Tredegar during the fourth quarter valued at approximately $80,000. Hedge funds and other institutional investors own 79.24% of the company’s stock.

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.