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 released on Tuesday.

Tredegar Price Performance

NYSE TG opened at $7.80 on Tuesday. The company has a 50 day moving average price of $7.84 and a two-hundred day moving average price of $7.34. Tredegar has a 12-month low of $3.98 and a 12-month high of $9.22. The stock has a market capitalization of $267.84 million, a PE ratio of -9.87 and a beta of 0.81. The company has a quick ratio of 0.42, a current ratio of 0.79 and a debt-to-equity ratio of 0.13.

Institutional Trading of Tredegar

Large investors have recently made changes to their positions in the stock. Occudo Quantitative Strategies LP acquired a new position in Tredegar in the 4th quarter valued at $78,000. Deutsche Bank AG boosted its holdings in Tredegar by 33.3% during the fourth quarter. Deutsche Bank AG now owns 26,872 shares of the basic materials company’s stock valued at $206,000 after acquiring an additional 6,719 shares during the period. CastleKnight Management LP grew its position in shares of Tredegar by 137.5% in the fourth quarter. CastleKnight Management LP now owns 214,300 shares of the basic materials company’s stock valued at $1,646,000 after purchasing an additional 124,079 shares during the last quarter. Bank of America Corp DE increased its stake in shares of 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 worth $22,226,000 after purchasing an additional 2,528,530 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Tredegar by 3.8% during the 4th quarter. Northern Trust Corp now owns 233,068 shares of the basic materials company’s stock worth $1,790,000 after purchasing an additional 8,459 shares during the last quarter. 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.