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

Tredegar (NYSE:TG) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Tredegar Price Performance

Shares of TG traded down $0.05 during trading hours on Tuesday, reaching $7.97. 66,783 shares of the company traded hands, compared to its average volume of 86,550. The stock has a market capitalization of $273.72 million, a PE ratio of -10.08 and a beta of 0.81. The stock has a fifty day simple moving average of $7.83 and a 200 day simple moving average of $7.33. Tredegar has a fifty-two week low of $3.98 and a fifty-two week high of $9.22. 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 and hedge funds have recently modified their holdings of the company. Gamco Investors INC. ET AL raised 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 valued at $43,191,000 after acquiring an additional 513,415 shares during the last quarter. Bank of America Corp DE increased its stake in Tredegar by 691.9% in 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 last quarter. Minerva Advisors LLC lifted its position in Tredegar by 3.4% during the third quarter. Minerva Advisors LLC now owns 1,663,107 shares of the basic materials company’s stock worth $12,124,000 after buying an additional 55,357 shares during the period. Dimensional Fund Advisors LP boosted its stake in Tredegar by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,109,365 shares of the basic materials company’s stock worth $8,520,000 after buying an additional 3,403 shares during the last quarter. Finally, Gabelli Funds LLC grew its holdings in Tredegar by 13.2% in the 4th quarter. Gabelli Funds LLC now owns 1,062,415 shares of the basic materials company’s stock valued at $8,159,000 after buying an additional 124,115 shares during the period. Hedge funds and other institutional investors 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.