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

Tredegar (NYSE:TG - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Thursday.

Tredegar Stock Up 1.4 %

NYSE TG traded up $0.11 during trading hours on Thursday, hitting $7.72. 127,668 shares of the company traded hands, compared to its average volume of 118,979. The stock has a market capitalization of $265.27 million, a price-to-earnings ratio of -9.77 and a beta of 0.84. Tredegar has a twelve month low of $3.98 and a twelve month high of $9.22. The business's 50-day moving average is $7.65 and its 200-day moving average is $6.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.42 and a current ratio of 0.79.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its holdings in Tredegar by 2.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 190,293 shares of the basic materials company's stock valued at $912,000 after buying an additional 5,094 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Tredegar by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 94,353 shares of the basic materials company's stock valued at $452,000 after acquiring an additional 3,246 shares in the last quarter. HB Wealth Management LLC increased its position in Tredegar by 198.6% during the second quarter. HB Wealth Management LLC now owns 89,580 shares of the basic materials company's stock worth $429,000 after acquiring an additional 59,575 shares during the period. Panagora Asset Management Inc. acquired a new stake in Tredegar in the 2nd quarter worth about $95,000. Finally, Acadian Asset Management LLC boosted its holdings in Tredegar by 2.3% in the 2nd quarter. Acadian Asset Management LLC now owns 184,828 shares of the basic materials company's stock valued at $884,000 after purchasing an additional 4,240 shares during the period. 79.24% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.