Tredegar (NYSE:TG) Upgraded to “Buy” at StockNews.com

Tredegar (NYSE:TG) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Tredegar Stock Down 0.4 %

TG traded down $0.04 on Tuesday, hitting $8.09. The company had a trading volume of 58,005 shares, compared to its average volume of 92,659. The stock has a fifty day moving average price of $7.81 and a 200-day moving average price of $7.15. Tredegar has a 12-month low of $3.98 and a 12-month 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. The stock has a market capitalization of $277.80 million, a price-to-earnings ratio of -10.23 and a beta of 0.81.

Tredegar (NYSE:TG) last issued its quarterly earnings results on Friday, November 8th. The basic materials company reported $0.01 earnings per share for the quarter. The business had revenue of $182.05 million during the quarter. Tredegar had a positive return on equity of 10.10% and a negative net margin of 3.84%.

Institutional Trading of Tredegar

Institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new stake in shares of Tredegar during the second quarter worth approximately $49,000. Cubist Systematic Strategies LLC grew its holdings in Tredegar by 161.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 37,330 shares of the basic materials company’s stock valued at $179,000 after buying an additional 23,068 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Tredegar in the 3rd quarter valued at $74,000. Bleakley Financial Group LLC grew its holdings in Tredegar by 64.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 19,670 shares of the basic materials company’s stock valued at $143,000 after buying an additional 7,732 shares in the last quarter. Finally, Gladius Capital Management LP purchased a new stake in Tredegar in the 3rd quarter valued at $40,000. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

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.