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

StockNews.com lowered shares of Tredegar (NYSE:TG) from a buy rating to a hold rating in a report released on Thursday.

Tredegar Price Performance

Shares of NYSE TG opened at $7.72 on Thursday. The stock has a fifty day moving average price of $7.65 and a 200 day moving average price of $6.42. Tredegar has a 1-year low of $3.98 and a 1-year high of $9.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.79 and a quick ratio of 0.42. The company has a market cap of $265.27 million, a PE ratio of -9.77 and a beta of 0.84.

Institutional Investors Weigh In On Tredegar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Gladius Capital Management LP acquired a new position in Tredegar during the third quarter worth $40,000. FMR LLC increased its position in shares of 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 in the last quarter. AQR Capital Management LLC acquired a new position in shares of Tredegar during the 2nd quarter worth $49,000. SG Americas Securities LLC purchased a new stake in shares of Tredegar in the 3rd quarter worth about $74,000. Finally, XTX Topco Ltd acquired a new stake in Tredegar in the 2nd quarter valued at about $49,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Tredegar Company Profile

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.