Tredegar (NYSE:TG) Cut to "Hold" at Wall Street Zen

Key Points

• Tredegar was downgraded by Wall Street Zen from “strong buy” to “hold”; Weiss Ratings also lowered its assessment, and MarketBeat reports an average analyst rating of “hold.”
• The company reported a quarterly loss of $0.04 per share on revenue of $207.17 million, compared with earnings of $0.20 per share in the same period last year.
• Major shareholders William M. Gottwald and John D. Gottwald each sold about 33,333 shares in October at an average price of $8.03; insiders sold 160,934 shares worth approximately $1.29 million over three months.

Tredegar (NYSE:TG - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings downgraded shares of Tredegar from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has an average rating of "Hold".

Tredegar Stock Performance

Shares of NYSE TG opened at $5.80 on Friday. Tredegar has a fifty-two week low of $5.26 and a fifty-two week high of $10.53. The firm has a market capitalization of $202.13 million, a PE ratio of 8.54 and a beta of 0.76. The stock's 50-day simple moving average is $7.11 and its 200-day simple moving average is $7.96.

Tredegar (NYSE:TG - Get Free Report) last announced its quarterly earnings results on Friday, November 6th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $207.17 million during the quarter. Tredegar had a net margin of 2.95% and a return on equity of 9.40%. During the same period last year, the business earned $0.20 earnings per share.

Insider Activity

In related news, major shareholder William M. Gottwald sold 33,334 shares of the company's stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $8.03, for a total value of $267,672.02. Following the completion of the sale, the insider directly owned 292,286 shares of the company's stock, valued at $2,347,056.58. This represents a 10.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder John D. Gottwald sold 33,333 shares of the firm's stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $8.03, for a total value of $267,663.99. Following the transaction, the insider owned 292,287 shares in the company, valued at $2,347,064.61. This represents a 10.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 160,934 shares of company stock valued at $1,290,334. Insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On Tredegar

A number of institutional investors have recently modified their holdings of TG. Bank of New York Mellon Corp raised its stake in Tredegar by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 108,875 shares of the basic materials company's stock valued at $866,000 after acquiring an additional 1,660 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Tredegar by 3.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 46,921 shares of the basic materials company's stock valued at $373,000 after purchasing an additional 1,739 shares during the last quarter. Teton Advisors LLC grew its stake in shares of Tredegar by 2.7% in the 1st quarter. Teton Advisors LLC now owns 113,000 shares of the basic materials company's stock valued at $898,000 after purchasing an additional 3,000 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Tredegar by 36.9% in the 1st quarter. NewEdge Advisors LLC now owns 16,471 shares of the basic materials company's stock valued at $131,000 after purchasing an additional 4,441 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new position in shares of Tredegar in the third quarter valued at approximately $36,000. 79.24% of the stock is owned by institutional investors and hedge funds.

About Tredegar

Tredegar Corporation is a materials manufacturer headquartered in Richmond, Virginia. Its two primary businesses are polyethylene films and aluminum extrusions, serving customers in a range of industrial and consumer markets. Through its PE Films business, Tredegar makes specialty polyethylene films, including surface-protection films used to help protect finished surfaces during manufacturing, shipping and installation. Its Bonnell Aluminum business produces custom aluminum extrusions and fabricated components for applications in areas such as building and construction, transportation and consumer products.

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