Tredegar (NYSE:TG) Raised to “Strong-Buy” at Wall Street Zen

Tredegar (NYSE:TG) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tredegar in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Tredegar presently has an average rating of “Sell”.

Tredegar Stock Performance

Shares of NYSE:TG opened at $8.48 on Friday. Tredegar has a one year low of $6.25 and a one year high of $9.43. The stock has a market capitalization of $296.18 million, a price-to-earnings ratio of -4.49 and a beta of 0.78. The company has a 50-day simple moving average of $7.65 and a 200-day simple moving average of $8.13.

Tredegar (NYSE:TG) last released its quarterly earnings results on Friday, November 7th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter. The firm had revenue of $194.94 million for the quarter. Tredegar had a positive return on equity of 4.17% and a negative net margin of 9.51%.

Insiders Place Their Bets

In other news, major shareholder John D. Gottwald sold 16,086 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $8.01, for a total value of $128,848.86. Following the completion of the transaction, the insider owned 759,811 shares in the company, valued at $6,086,086.11. This trade represents a 2.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder William M. Gottwald sold 16,087 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $8.01, for a total transaction of $128,856.87. Following the completion of the sale, the insider owned 759,810 shares of the company’s stock, valued at $6,086,078.10. This trade represents a 2.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 50,962 shares of company stock valued at $411,044. 5.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Tredegar by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 589,275 shares of the basic materials company’s stock worth $5,187,000 after purchasing an additional 1,506 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Tredegar by 53.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,273 shares of the basic materials company’s stock worth $42,000 after buying an additional 1,830 shares during the last quarter. Rhumbline Advisers grew its holdings in Tredegar by 4.8% in the 2nd quarter. Rhumbline Advisers now owns 44,096 shares of the basic materials company’s stock valued at $388,000 after buying an additional 2,021 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Tredegar by 531.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,376 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 2,841 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Tredegar by 25.9% during the 1st quarter. MetLife Investment Management LLC now owns 15,268 shares of the basic materials company’s stock worth $118,000 after acquiring an additional 3,145 shares during the period. 79.24% of the stock is currently 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.