Tredegar (NYSE:TG) Rating Increased to Buy at StockNews.com

Tredegar (NYSE:TG - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Wednesday.

Tredegar Stock Performance

Shares of NYSE:TG traded down $0.07 on Wednesday, reaching $6.85. 32,600 shares of the company's stock were exchanged, compared to its average volume of 84,759. Tredegar has a fifty-two week low of $3.98 and a fifty-two week high of $9.22. The business's 50-day moving average is $7.81 and its two-hundred day moving average is $7.40. The company has a quick ratio of 0.42, a current ratio of 0.79 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $235.37 million, a price-to-earnings ratio of -8.66 and a beta of 0.81.

Hedge Funds Weigh In On Tredegar

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its holdings in shares of Tredegar by 691.9% in the 4th 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 lifted its holdings in Tredegar by 10.0% in the 4th quarter. Gamco Investors INC. ET AL now owns 5,623,809 shares of the basic materials company's stock worth $43,191,000 after purchasing an additional 513,415 shares during the last quarter. American Century Companies Inc. boosted its position in Tredegar by 35.0% during the fourth quarter. American Century Companies Inc. now owns 503,066 shares of the basic materials company's stock worth $3,864,000 after purchasing an additional 130,291 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Tredegar by 608.2% in the fourth 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 period. Finally, Gabelli Funds LLC raised its position 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 valued at $8,159,000 after purchasing an additional 124,115 shares during the period. Institutional investors and hedge funds own 79.24% of the company's stock.

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.