StockNews.com Upgrades Tredegar (NYSE:TG) to Buy

StockNews.com upgraded shares of Tredegar (NYSE:TG) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Tredegar Stock Up 1.0 %

NYSE:TG opened at $7.92 on Tuesday. Tredegar has a twelve month low of $3.98 and a twelve month high of $9.22. The company has a market cap of $272.13 million, a price-to-earnings ratio of -10.03 and a beta of 0.81. The stock has a fifty day simple moving average of $7.82 and a 200-day simple moving average of $7.16. The company has a current ratio of 0.79, a quick ratio of 0.42 and a debt-to-equity ratio of 0.13.

Hedge Funds Weigh In On Tredegar

Several institutional investors have recently made changes to their positions in TG. Gamco Investors INC. ET AL increased its stake in shares of Tredegar by 10.0% during the fourth 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 buying an additional 513,415 shares during the period. American Century Companies Inc. increased its stake in shares of Tredegar by 35.0% during the fourth quarter. American Century Companies Inc. now owns 503,066 shares of the basic materials company’s stock valued at $3,864,000 after buying an additional 130,291 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Tredegar by 608.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 151,269 shares of the basic materials company’s stock valued at $1,162,000 after buying an additional 129,909 shares during the period. Gabelli Funds LLC increased its stake in shares of Tredegar by 13.2% during the fourth 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. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Tredegar by 569.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 99,167 shares of the basic materials company’s stock valued at $762,000 after buying an additional 84,363 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.