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

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

Tredegar Price Performance

Shares of NYSE TG traded up $0.11 during mid-day trading on Thursday, reaching $7.72. The company had a trading volume of 127,668 shares, compared to its average volume of 118,979. The firm has a market cap of $265.27 million, a price-to-earnings ratio of -9.77 and a beta of 0.84. The business’s 50-day simple moving average is $7.65 and its 200 day simple moving average is $6.42. Tredegar has a one year low of $3.98 and a one year high of $9.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.42 and a current ratio of 0.79.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TG. State Street Corp boosted its stake in shares of Tredegar by 0.3% in the 3rd quarter. State Street Corp now owns 587,254 shares of the basic materials company’s stock valued at $4,281,000 after purchasing an additional 1,930 shares in the last quarter. Bank of New York Mellon Corp increased its position in Tredegar by 3.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 94,353 shares of the basic materials company’s stock worth $452,000 after purchasing an additional 3,246 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Tredegar by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 75,132 shares of the basic materials company’s stock valued at $548,000 after purchasing an additional 4,000 shares during the last quarter. Acadian Asset Management LLC boosted its position in Tredegar by 2.3% in the second quarter. Acadian Asset Management LLC now owns 184,828 shares of the basic materials company’s stock valued at $884,000 after buying an additional 4,240 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Tredegar by 2.8% during the second quarter. Assenagon Asset Management S.A. now owns 190,293 shares of the basic materials company’s stock worth $912,000 after buying an additional 5,094 shares during the last quarter. 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.