Millennium Management LLC Has $415,000 Position in Tredegar Co. (NYSE:TG)

Millennium Management LLC cut its holdings in Tredegar Co. (NYSE:TG - Free Report) by 70.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 54,084 shares of the basic materials company's stock after selling 126,352 shares during the quarter. Millennium Management LLC owned approximately 0.16% of Tredegar worth $415,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in TG. Deutsche Bank AG increased its stake in shares of Tredegar by 33.3% in the 4th quarter. Deutsche Bank AG now owns 26,872 shares of the basic materials company's stock valued at $206,000 after buying an additional 6,719 shares during the period. CastleKnight Management LP lifted its stake in shares of Tredegar by 137.5% during the fourth quarter. CastleKnight Management LP now owns 214,300 shares of the basic materials company's stock valued at $1,646,000 after acquiring an additional 124,079 shares during the period. Bank of America Corp DE boosted its holdings in Tredegar by 691.9% in the fourth quarter. Bank of America Corp DE now owns 2,893,980 shares of the basic materials company's stock valued at $22,226,000 after acquiring an additional 2,528,530 shares during the last quarter. Northern Trust Corp increased its position in Tredegar by 3.8% in the fourth quarter. Northern Trust Corp now owns 233,068 shares of the basic materials company's stock worth $1,790,000 after purchasing an additional 8,459 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Tredegar in the fourth quarter worth about $80,000. 79.24% of the stock is owned by institutional investors.

Tredegar Trading Down 2.1%

TG traded down $0.18 during trading on Friday, reaching $8.60. 57,664 shares of the company's stock were exchanged, compared to its average volume of 97,234. The company's fifty day moving average price is $7.95 and its 200-day moving average price is $7.78. The firm has a market capitalization of $300.33 million, a PE ratio of -10.89 and a beta of 0.82. Tredegar Co. has a fifty-two week low of $4.31 and a fifty-two week high of $9.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.42 and a current ratio of 0.79.

Tredegar (NYSE:TG - Get Free Report) last released its quarterly earnings data 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 business had revenue of $164.73 million during the quarter.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Tredegar from a "buy" rating to a "hold" rating in a research note on Friday, May 9th.

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.