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

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

Tredegar Stock Performance

Tredegar stock opened at $7.06 on Wednesday. The stock’s 50 day moving average price is $7.78 and its 200 day moving average price is $7.39. The firm has a market capitalization of $242.59 million, a PE ratio of -8.94 and a beta of 0.81. 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.

Hedge Funds Weigh In On Tredegar

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Gladius Capital Management LP acquired a new position in shares of Tredegar in the 3rd quarter valued at approximately $40,000. FMR LLC raised its position 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. Occudo Quantitative Strategies LP acquired a new position in shares of Tredegar in the 4th quarter valued at approximately $78,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Tredegar in the 4th quarter valued at approximately $80,000. Finally, D Orazio & Associates Inc. acquired a new position in shares of Tredegar in the 4th quarter valued at approximately $84,000. 79.24% of the stock is owned by institutional investors and hedge funds.

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.