Tredegar (NYSE:TG) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Tredegar (NYSE:TG – Get Rating) in a research note published on Thursday morning. The brokerage issued a hold rating on the basic materials company’s stock.

Tredegar Trading Down 7.2 %

Shares of TG opened at $8.98 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.62 and a quick ratio of 0.84. Tredegar has a 1 year low of $8.72 and a 1 year high of $13.15. The company has a 50 day simple moving average of $11.60 and a two-hundred day simple moving average of $10.76. The firm has a market cap of $305.32 million, a P/E ratio of 10.56 and a beta of 0.95.

Tredegar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Shareholders of record on Friday, March 24th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date is Thursday, March 23rd. Tredegar’s dividend payout ratio (DPR) is currently 61.18%.

Institutional Investors Weigh In On Tredegar

A number of institutional investors have recently added to or reduced their stakes in TG. Allspring Global Investments Holdings LLC purchased a new position in shares of Tredegar in the third quarter valued at $25,000. Quadrant Capital Group LLC purchased a new stake in shares of Tredegar during the third quarter worth about $28,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Tredegar by 32.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,704 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 1,148 shares during the last quarter. Captrust Financial Advisors boosted its position in Tredegar by 111.0% in the first quarter. Captrust Financial Advisors now owns 3,977 shares of the basic materials company’s stock valued at $48,000 after buying an additional 2,092 shares during the last quarter. Finally, US Bancorp DE boosted its position in Tredegar by 2,210.6% in the third quarter. US Bancorp DE now owns 6,123 shares of the basic materials company’s stock valued at $58,000 after buying an additional 5,858 shares during the last quarter. 61.82% of the stock is owned by hedge funds and other institutional investors.

About Tredegar

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Tredegar Corp. engages in the manufacture of polyethylene (PE) plastic films, polyester films, and aluminum extrusions. It operates through the following segments: PE Films, Flexible Packaging Films and Aluminum Extrusions. The PE Films segment manufactures plastic films, elastics, and laminate materials utilized in personal care materials, surface protection films and specialty and optical lighting applications.