Tredegar (NYSE:TG) Rating Increased to Buy at StockNews.com

Tredegar (NYSE:TG) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

Tredegar Stock Performance

Shares of NYSE:TG traded up $0.14 during trading on Monday, hitting $7.92. The company’s stock had a trading volume of 134,951 shares, compared to its average volume of 103,721. The company has a 50-day moving average of $7.71 and a 200-day moving average of $7.53. 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 firm has a market cap of $274.47 million, a price-to-earnings ratio of -10.02 and a beta of 0.75. Tredegar has a 12 month low of $4.31 and a 12 month high of $9.22.

Tredegar (NYSE:TG) last released its quarterly earnings results on Wednesday, March 12th. The basic materials company reported $0.06 earnings per share for the quarter. Tredegar had a negative net margin of 3.84% and a positive return on equity of 10.10%. The business had revenue of $154.05 million for the quarter.

Institutional Investors Weigh In On Tredegar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Occudo Quantitative Strategies LP bought a new position in Tredegar in the 4th quarter worth $78,000. Deutsche Bank AG lifted its holdings in Tredegar by 33.3% in the 4th quarter. Deutsche Bank AG now owns 26,872 shares of the basic materials company’s stock worth $206,000 after purchasing an additional 6,719 shares in the last quarter. CastleKnight Management LP lifted its holdings in Tredegar by 137.5% in the 4th quarter. CastleKnight Management LP now owns 214,300 shares of the basic materials company’s stock worth $1,646,000 after purchasing an additional 124,079 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Tredegar by 691.9% in the fourth quarter. Bank of America Corp DE now owns 2,893,980 shares of the basic materials company’s stock worth $22,226,000 after buying an additional 2,528,530 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Tredegar by 3.8% during the fourth quarter. Northern Trust Corp now owns 233,068 shares of the basic materials company’s stock valued at $1,790,000 after acquiring an additional 8,459 shares in the last quarter. 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.