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

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

Tredegar Trading Down 0.4 %

TG traded down $0.04 during mid-day trading on Tuesday, hitting $8.09. 58,005 shares of the stock were exchanged, compared to its average volume of 92,659. The firm’s fifty day moving average is $7.81 and its two-hundred day moving average is $7.15. Tredegar has a 1-year low of $3.98 and a 1-year high of $9.22. The company has a current ratio of 0.79, a quick ratio of 0.42 and a debt-to-equity ratio of 0.13. The company has a market cap of $277.80 million, a PE 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. Tredegar had a positive return on equity of 10.10% and a negative net margin of 3.84%. The company had revenue of $182.05 million for the quarter.

Institutional Investors Weigh In On Tredegar

Several large investors have recently bought and sold shares of the stock. FMR LLC increased its holdings 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 acquiring an additional 5,833 shares during the last quarter. Barclays PLC increased its holdings 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 valued at $975,000 after acquiring an additional 26,757 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Tredegar by 216.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,443 shares of the basic materials company’s stock valued at $215,000 after acquiring an additional 20,125 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Tredegar by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 581,762 shares of the basic materials company’s stock valued at $4,242,000 after acquiring an additional 7,812 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Tredegar in the 3rd quarter valued at about $85,000. 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.