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 Thursday.

Tredegar Stock Performance

Shares of TG stock opened at $7.71 on Thursday. The company has a market capitalization of $264.92 million, a price-to-earnings ratio of -9.76 and a beta of 0.84. Tredegar has a 1-year low of $3.98 and a 1-year high of $9.22. 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 stock’s fifty day simple moving average is $7.66 and its 200-day simple moving average is $6.43.

Hedge Funds Weigh In On Tredegar

A number of hedge funds have recently modified their holdings of TG. State Street Corp grew its stake in Tredegar by 0.3% in the third quarter. State Street Corp now owns 587,254 shares of the basic materials company’s stock valued at $4,281,000 after purchasing an additional 1,930 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Tredegar by 3.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 94,353 shares of the basic materials company’s stock valued at $452,000 after buying an additional 3,246 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Tredegar by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 75,132 shares of the basic materials company’s stock worth $548,000 after buying an additional 4,000 shares during the last quarter. Acadian Asset Management LLC raised its position in Tredegar by 2.3% during the second quarter. Acadian Asset Management LLC now owns 184,828 shares of the basic materials company’s stock valued at $884,000 after acquiring an additional 4,240 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Tredegar by 2.8% in the second quarter. Assenagon Asset Management S.A. now owns 190,293 shares of the basic materials company’s stock valued at $912,000 after acquiring an additional 5,094 shares during the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

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.