Tredegar (NYSE:TG) Stock Rating Lowered by StockNews.com

Tredegar (NYSE:TGGet Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

Shares of TG traded down $0.14 during mid-day trading on Thursday, hitting $12.31. The company’s stock had a trading volume of 88,990 shares, compared to its average volume of 139,948. The firm has a 50-day simple moving average of $11.90 and a 200 day simple moving average of $11.78. The firm has a market capitalization of $416.73 million, a P/E ratio of 6.35 and a beta of 0.91. Tredegar has a 1-year low of $10.59 and a 1-year high of $16.14. The company has a current ratio of 1.60, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

Tredegar (NYSE:TGGet Rating) last issued its quarterly earnings data on Monday, May 9th. The basic materials company reported $0.50 earnings per share (EPS) for the quarter. The firm had revenue of $236.30 million during the quarter. Tredegar had a return on equity of 27.02% and a net margin of 7.36%.

A number of hedge funds have recently modified their holdings of TG. Lazard Asset Management LLC raised its holdings in shares of Tredegar by 38.5% in the fourth quarter. Lazard Asset Management LLC now owns 3,843 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 1,069 shares during the last quarter. Captrust Financial Advisors grew its position in Tredegar by 111.0% during the first quarter. Captrust Financial Advisors now owns 3,977 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 2,092 shares during the period. Public Employees Retirement System of Ohio grew its position in Tredegar by 53.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,606 shares of the basic materials company’s stock valued at $54,000 after acquiring an additional 1,596 shares during the period. HM Payson & Co. purchased a new stake in Tredegar during the fourth quarter valued at about $70,000. Finally, Acadian Asset Management LLC grew its position in Tredegar by 41.6% during the fourth quarter. Acadian Asset Management LLC now owns 6,821 shares of the basic materials company’s stock valued at $79,000 after acquiring an additional 2,005 shares during the period. 61.58% of the stock is owned by hedge funds and other institutional investors.

Tredegar Company Profile (Get Rating)

Tredegar Corporation, through its subsidiaries, manufactures and sells aluminum extrusions, polyethylene (PE) films, 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-alloy and medium-strength 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 fabricated aluminum extrusions to fabricators and distributors.

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