StockNews.com Downgrades Tredegar (NYSE:TG) to Hold

StockNews.com lowered shares of Tredegar (NYSE:TG) from a buy rating to a hold rating in a research note released on Friday morning.

Tredegar Price Performance

Shares of TG opened at $8.45 on Friday. Tredegar has a 12-month low of $4.31 and a 12-month high of $9.22. The business’s fifty day moving average is $7.47 and its 200 day moving average is $7.64. The company has a quick ratio of 0.42, a current ratio of 0.79 and a debt-to-equity ratio of 0.13. The stock has a market cap of $292.87 million, a P/E ratio of -10.70 and a beta of 0.78.

Tredegar (NYSE:TG) last issued its earnings results on Thursday, May 8th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter. Tredegar had a positive return on equity of 10.10% and a negative net margin of 3.84%. The company had revenue of $164.73 million for the quarter.

Hedge Funds Weigh In On Tredegar

Several large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its stake in Tredegar by 190.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 217,954 shares of the basic materials company’s stock valued at $1,678,000 after acquiring an additional 142,822 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in Tredegar during the 1st quarter valued at $131,000. Choreo LLC bought a new stake in shares of Tredegar during the 1st quarter worth $241,000. Bank of New York Mellon Corp raised its stake in shares of Tredegar by 4.5% during the 1st quarter. Bank of New York Mellon Corp now owns 76,074 shares of the basic materials company’s stock worth $586,000 after purchasing an additional 3,278 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Tredegar by 1,131.8% during the 1st quarter. GAMMA Investing LLC now owns 10,495 shares of the basic materials company’s stock worth $81,000 after purchasing an additional 9,643 shares during the period. 79.24% of the stock is currently owned by institutional investors.

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.