Tredegar (NYSE:TG) Cut to “Hold” at StockNews.com

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

Tredegar Trading Down 1.0 %

NYSE TG opened at $7.88 on Tuesday. Tredegar has a 12 month low of $3.98 and a 12 month 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 moving average price is $7.83 and its 200-day moving average price is $7.33. The stock has a market cap of $270.76 million, a P/E ratio of -9.97 and a beta of 0.81.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in shares of Tredegar by 691.9% during the fourth quarter. Bank of America Corp DE now owns 2,893,980 shares of the basic materials company’s stock valued at $22,226,000 after buying an additional 2,528,530 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in Tredegar by 10.0% in the 4th 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 acquiring an additional 513,415 shares in the last quarter. American Century Companies Inc. boosted its stake in Tredegar by 35.0% during the 4th quarter. American Century Companies Inc. now owns 503,066 shares of the basic materials company’s stock valued at $3,864,000 after purchasing an additional 130,291 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Tredegar by 608.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 151,269 shares of the basic materials company’s stock worth $1,162,000 after purchasing an additional 129,909 shares in the last quarter. Finally, Gabelli Funds LLC raised its stake in shares of Tredegar by 13.2% in the fourth quarter. Gabelli Funds LLC now owns 1,062,415 shares of the basic materials company’s stock worth $8,159,000 after purchasing an additional 124,115 shares during the last quarter. 79.24% of the stock is owned by hedge funds and other 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.