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

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

Tredegar Stock Down 0.5 %

NYSE:TG traded down $0.04 during trading hours on Thursday, reaching $7.31. 87,938 shares of the company traded hands, compared to its average volume of 106,276. The company has a current ratio of 0.79, a quick ratio of 0.42 and a debt-to-equity ratio of 0.13. The business's 50-day moving average price is $7.70 and its two-hundred day moving average price is $7.48. Tredegar has a 1 year low of $4.31 and a 1 year high of $9.22. The stock has a market capitalization of $251.01 million, a P/E ratio of -9.25 and a beta of 0.75.

Tredegar (NYSE:TG - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter. Tredegar had a positive return on equity of 10.10% and a negative net margin of 3.84%. The firm had revenue of $154.05 million during the quarter.

Institutional Investors Weigh In On Tredegar

Several institutional investors have recently modified their holdings of TG. Bank of America Corp DE lifted its position in Tredegar by 691.9% during the fourth 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 purchasing an additional 2,528,530 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of Tredegar by 10.0% during the 4th 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 during the period. American Century Companies Inc. grew its stake in shares of Tredegar by 35.0% during the 4th quarter. American Century Companies Inc. now owns 503,066 shares of the basic materials company's stock valued at $3,864,000 after purchasing an additional 130,291 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Tredegar by 608.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 151,269 shares of the basic materials company's stock valued at $1,162,000 after purchasing an additional 129,909 shares during the last quarter. Finally, Gabelli Funds LLC boosted its holdings in shares of Tredegar by 13.2% in the fourth quarter. Gabelli Funds LLC now owns 1,062,415 shares of the basic materials company's stock worth $8,159,000 after buying an additional 124,115 shares during the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

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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.