CastleKnight Management LP Buys 124,079 Shares of Tredegar Co. (NYSE:TG)

CastleKnight Management LP increased its stake in Tredegar Co. (NYSE:TG - Free Report) by 137.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 214,300 shares of the basic materials company's stock after buying an additional 124,079 shares during the period. CastleKnight Management LP owned about 0.62% of Tredegar worth $1,646,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in shares of Tredegar by 691.9% during the fourth quarter. Bank of America Corp DE now owns 2,893,980 shares of the basic materials company's stock worth $22,226,000 after acquiring an additional 2,528,530 shares during the last quarter. Northern Trust Corp raised its stake in shares of Tredegar by 3.8% in the 4th quarter. Northern Trust Corp now owns 233,068 shares of the basic materials company's stock valued at $1,790,000 after acquiring an additional 8,459 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Tredegar in the fourth quarter worth about $80,000. Dimensional Fund Advisors LP grew its position in Tredegar by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,109,365 shares of the basic materials company's stock worth $8,520,000 after buying an additional 3,403 shares in the last quarter. Finally, Teton Advisors Inc. grew its stake in shares of Tredegar by 10.3% in the 4th quarter. Teton Advisors Inc. now owns 121,000 shares of the basic materials company's stock valued at $929,000 after purchasing an additional 11,300 shares during the period. 79.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Tredegar from a "buy" rating to a "hold" rating in a research note on Friday.

Tredegar Trading Up 2.2 %

TG traded up $0.18 during midday trading on Friday, reaching $8.45. 58,462 shares of the company were exchanged, compared to its average volume of 101,324. The stock's 50-day simple moving average is $7.47 and its 200 day simple moving average is $7.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.42 and a current ratio of 0.79. The stock has a market capitalization of $292.87 million, a P/E ratio of -10.70 and a beta of 0.78. Tredegar Co. has a one year low of $4.31 and a one year high of $9.22.

Tredegar (NYSE:TG - Get Free Report) last announced its earnings results on Thursday, May 8th. The basic materials company reported $0.10 EPS for the quarter. Tredegar had a negative net margin of 3.84% and a positive return on equity of 10.10%. The firm had revenue of $164.73 million for the quarter.

About Tredegar

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.