Bank of New York Mellon Corp Sells 6,060 Shares of Tredegar Co. (NYSE:TG)

Bank of New York Mellon Corp lowered its stake in Tredegar Co. (NYSE:TG) by 7.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,796 shares of the basic materials company’s stock after selling 6,060 shares during the quarter. Bank of New York Mellon Corp owned about 0.21% of Tredegar worth $559,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its holdings in shares of Tredegar by 161.5% in 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. D Orazio & Associates Inc. purchased a new position in shares of Tredegar during the fourth quarter valued at $84,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Tredegar in the 3rd quarter worth approximately $85,000. SG Americas Securities LLC raised its position in shares of Tredegar by 30.9% in the 4th quarter. SG Americas Securities LLC now owns 13,335 shares of the basic materials company’s stock worth $102,000 after acquiring an additional 3,144 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new stake in shares of Tredegar in the 3rd quarter valued at about $112,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Tredegar from a “hold” rating to a “buy” rating in a research note on Monday.

Tredegar Trading Down 0.0 %

NYSE TG opened at $7.94 on Friday. Tredegar Co. has a 1 year low of $4.31 and a 1 year high of $9.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.79 and a quick ratio of 0.42. The company has a market capitalization of $275.27 million, a PE ratio of -10.05 and a beta of 0.75. The company has a fifty day moving average of $7.71 and a 200 day moving average of $7.55.

Tredegar (NYSE:TG) last posted its earnings results on Wednesday, March 12th. The basic materials company reported $0.06 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 for the quarter.

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.