Bank of America Corp DE Acquires 2,528,530 Shares of Tredegar Co. (NYSE:TG)

Bank of America Corp DE increased its holdings in shares of Tredegar Co. (NYSE:TG - Free Report) by 691.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,893,980 shares of the basic materials company's stock after purchasing an additional 2,528,530 shares during the quarter. Bank of America Corp DE owned approximately 8.42% of Tredegar worth $22,226,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of Tredegar by 23.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 68,240 shares of the basic materials company's stock worth $497,000 after purchasing an additional 12,777 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Tredegar during the fourth quarter worth $356,000. SG Americas Securities LLC increased its holdings in Tredegar by 30.9% during the fourth quarter. SG Americas Securities LLC now owns 13,335 shares of the basic materials company's stock worth $102,000 after buying an additional 3,144 shares during the last quarter. D Orazio & Associates Inc. bought a new stake in Tredegar during the fourth quarter worth $84,000. Finally, Rhumbline Advisers lifted its stake in Tredegar by 3.0% in the fourth quarter. Rhumbline Advisers now owns 44,253 shares of the basic materials company's stock valued at $340,000 after acquiring an additional 1,298 shares during the last quarter. Institutional investors own 79.24% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Tredegar from a "buy" rating to a "hold" rating in a research report on Friday, May 9th.

Tredegar Price Performance

Shares of NYSE TG opened at $8.28 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.79 and a debt-to-equity ratio of 0.13. The business's 50 day moving average price is $7.61 and its two-hundred day moving average price is $7.66. The company has a market cap of $289.29 million, a PE ratio of -10.49 and a beta of 0.78. Tredegar Co. has a twelve month low of $4.31 and a twelve month high of $9.22.

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

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.

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