Tredegar (NYSE:TG) Downgraded by StockNews.com to “Hold”

Tredegar (NYSE:TG) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Tredegar Stock Performance

Shares of NYSE:TG opened at $7.68 on Tuesday. The firm’s 50 day simple moving average is $7.66 and its 200-day simple moving average is $6.58. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.42 and a current ratio of 0.79. Tredegar has a one year low of $3.98 and a one year high of $9.22. The firm has a market cap of $263.89 million, a PE ratio of -9.72 and a beta of 0.84.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Gabelli Funds LLC boosted its stake in shares of Tredegar by 26.9% during the second quarter. Gabelli Funds LLC now owns 831,500 shares of the basic materials company’s stock valued at $3,983,000 after purchasing an additional 176,091 shares in the last quarter. American Century Companies Inc. lifted its holdings in Tredegar by 66.5% during the second quarter. American Century Companies Inc. now owns 368,376 shares of the basic materials company’s stock worth $1,765,000 after buying an additional 147,158 shares during the period. Bank of Montreal Can bought a new stake in Tredegar during the 2nd quarter valued at $685,000. Minerva Advisors LLC increased its holdings in shares of Tredegar by 3.4% in the 3rd quarter. Minerva Advisors LLC now owns 1,663,107 shares of the basic materials company’s stock valued at $12,124,000 after acquiring an additional 55,357 shares during the period. Finally, Barclays PLC raised its position in shares of Tredegar by 25.0% in the 3rd quarter. Barclays PLC now owns 133,827 shares of the basic materials company’s stock worth $975,000 after acquiring an additional 26,757 shares in the last quarter. 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.