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

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

Shares of Tredegar stock traded down $0.06 during mid-day trading on Thursday, reaching $11.31. 127,243 shares of the stock were exchanged, compared to its average volume of 139,784. The company has a current ratio of 1.40, a quick ratio of 0.88 and a debt-to-equity ratio of 0.40. The company has a market cap of $381.64 million, a price-to-earnings ratio of 6.58 and a beta of 0.92. Tredegar has a fifty-two week low of $10.59 and a fifty-two week high of $16.22. The firm has a 50-day simple moving average of $11.97 and a 200 day simple moving average of $11.84.

Institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC raised its stake 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 buying an additional 1,069 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Tredegar by 53.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,606 shares of the basic materials company’s stock worth $54,000 after purchasing an additional 1,596 shares during the period. HM Payson & Co. purchased a new stake in shares of Tredegar in the 4th quarter worth $70,000. Acadian Asset Management LLC raised its position in shares of Tredegar by 41.6% in the 4th quarter. Acadian Asset Management LLC now owns 6,821 shares of the basic materials company’s stock worth $79,000 after acquiring an additional 2,005 shares in the last quarter. Finally, KBC Group NV increased its position in Tredegar by 28.1% during the 3rd quarter. KBC Group NV now owns 8,149 shares of the basic materials company’s stock valued at $99,000 after buying an additional 1,787 shares in the last quarter. Institutional investors own 61.58% of the company’s stock.

About Tredegar (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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