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

StockNews.com downgraded shares of Tredegar (NYSE:TG) from a buy rating to a hold rating in a report issued on Tuesday morning.

Tredegar Trading Up 2.0 %

Shares of TG stock opened at $7.83 on Tuesday. The firm has a fifty day moving average of $7.66 and a 200-day moving average of $6.59. The stock has a market cap of $269.05 million, a price-to-earnings ratio of -9.91 and a beta of 0.84. Tredegar has a 52-week low of $3.98 and a 52-week 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.

Hedge Funds Weigh In On Tredegar

Hedge funds have recently modified their holdings of the stock. Gladius Capital Management LP acquired a new stake in Tredegar in the 3rd quarter valued at $40,000. FMR LLC boosted its stake in shares of Tredegar by 161.5% in the 3rd quarter. FMR LLC now owns 9,445 shares of the basic materials company’s stock valued at $69,000 after purchasing an additional 5,833 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Tredegar in the 2nd quarter worth about $49,000. SG Americas Securities LLC acquired a new stake in shares of Tredegar during the 3rd quarter worth about $74,000. Finally, XTX Topco Ltd bought a new position in Tredegar during the 2nd quarter valued at about $49,000. 79.24% of the stock is owned by institutional investors and hedge funds.

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.