Tredegar (NYSE:TG) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Tredegar (NYSE:TG) from a buy rating to a hold rating in a report published on Tuesday.

Tredegar Stock Performance

TG stock opened at $7.83 on Tuesday. The firm has a 50 day moving average of $7.66 and a two-hundred day moving average of $6.59. Tredegar has a 12 month low of $3.98 and a 12 month high of $9.22. The company has a market capitalization of $269.05 million, a price-to-earnings ratio of -9.91 and a beta of 0.84. The company has a quick ratio of 0.42, a current ratio of 0.79 and a debt-to-equity ratio of 0.13.

Hedge Funds Weigh In On Tredegar

Institutional investors have recently made changes to their positions in the business. Gladius Capital Management LP acquired a new position in Tredegar during the 3rd quarter valued at $40,000. FMR LLC increased its holdings in shares of Tredegar by 161.5% during the 3rd 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. AQR Capital Management LLC acquired a new position in shares of Tredegar during the second quarter valued at about $49,000. SG Americas Securities LLC bought a new stake in shares of Tredegar in the third quarter valued at about $74,000. Finally, XTX Topco Ltd acquired a new stake in Tredegar during the second quarter worth about $49,000. 79.24% of the stock is currently owned by institutional investors.

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.