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

StockNews.com upgraded shares of Tredegar (NYSE:TGFree Report) from a hold rating to a buy rating in a research report report published on Friday.

Tredegar Price Performance

Shares of TG stock traded up $0.06 during trading hours on Friday, reaching $6.49. The company had a trading volume of 87,601 shares, compared to its average volume of 119,285. Tredegar has a 12-month low of $3.98 and a 12-month high of $7.89. The company has a market capitalization of $223.45 million, a price-to-earnings ratio of -2.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.38 and a current ratio of 0.73. The stock has a fifty day moving average of $5.92 and a 200-day moving average of $5.20.

Tredegar (NYSE:TGGet Free Report) last issued its earnings results on Thursday, May 9th. The basic materials company reported $0.16 earnings per share for the quarter. Tredegar had a negative return on equity of 1.01% and a negative net margin of 14.79%. The business had revenue of $175.74 million for the quarter.

Institutional Trading of Tredegar

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Gamco Investors INC. ET AL grew its stake in Tredegar by 4.1% in the third quarter. Gamco Investors INC. ET AL now owns 4,283,393 shares of the basic materials company’s stock valued at $23,173,000 after acquiring an additional 167,185 shares during the period. Vanguard Group Inc. boosted its stake in Tredegar by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,369,270 shares of the basic materials company’s stock valued at $8,928,000 after purchasing an additional 9,674 shares during the last quarter. Minerva Advisors LLC raised its stake in shares of Tredegar by 65.3% in the third quarter. Minerva Advisors LLC now owns 990,549 shares of the basic materials company’s stock worth $5,359,000 after purchasing an additional 391,262 shares during the last quarter. Gabelli Funds LLC grew its holdings in Tredegar by 4.8% during the fourth quarter. Gabelli Funds LLC now owns 600,500 shares of the basic materials company’s stock worth $3,249,000 after buying an additional 27,500 shares in the last quarter. Finally, London Co. of Virginia boosted its holdings in Tredegar by 2.1% during the third quarter. London Co. of Virginia now owns 238,348 shares of the basic materials company’s stock worth $1,289,000 after purchasing an additional 4,819 shares during the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

About Tredegar

(Get Free Report)

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.

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