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

StockNews.com upgraded shares of Tredegar (NYSE:TG) from a hold rating to a buy rating in a research note released on Wednesday.

Tredegar Trading Up 0.1 %

Tredegar stock opened at $6.94 on Wednesday. The stock has a 50-day moving average of $7.81 and a two-hundred day moving average of $7.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.42 and a current ratio of 0.79. Tredegar has a one year low of $3.98 and a one year high of $9.22. The stock has a market cap of $238.29 million, a PE ratio of -8.78 and a beta of 0.81.

Institutional Investors Weigh In On Tredegar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gladius Capital Management LP purchased a new stake in Tredegar in the third quarter valued at about $40,000. FMR LLC raised its stake in shares of Tredegar by 161.5% in the third quarter. FMR LLC now owns 9,445 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 5,833 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of Tredegar in the fourth quarter worth about $78,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Tredegar in the fourth quarter worth about $80,000. Finally, D Orazio & Associates Inc. purchased a new position in shares of Tredegar in the fourth quarter worth about $84,000. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

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.