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

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

Tredegar Price Performance

NYSE:TG opened at $7.56 on Tuesday. The firm has a market cap of $259.77 million, a PE ratio of -9.57 and a beta of 0.84. The company’s 50-day moving average price is $7.67 and its two-hundred day moving average price is $6.53. The company has a quick ratio of 0.42, a current ratio of 0.79 and a debt-to-equity ratio of 0.13. Tredegar has a 12 month low of $3.98 and a 12 month high of $9.22.

Hedge Funds Weigh In On Tredegar

Large investors have recently made changes to their positions in the company. Gabelli Funds LLC boosted its stake in Tredegar by 26.9% in the second quarter. Gabelli Funds LLC now owns 831,500 shares of the basic materials company’s stock valued at $3,983,000 after acquiring an additional 176,091 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Tredegar by 66.5% during the second quarter. American Century Companies Inc. now owns 368,376 shares of the basic materials company’s stock worth $1,765,000 after purchasing an additional 147,158 shares during the period. Acadian Asset Management LLC increased its holdings in Tredegar by 2.3% in the second quarter. Acadian Asset Management LLC now owns 184,828 shares of the basic materials company’s stock valued at $884,000 after purchasing an additional 4,240 shares during the last quarter. FMR LLC lifted its stake in Tredegar by 161.5% in the third quarter. FMR LLC now owns 9,445 shares of the basic materials company’s stock valued at $69,000 after buying an additional 5,833 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Tredegar by 216.0% during the third quarter. BNP Paribas Financial Markets now owns 29,443 shares of the basic materials company’s stock worth $215,000 after buying an additional 20,125 shares during the last quarter. 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.