Bank of New York Mellon Corp Reduces Position in Tredegar Co. (NYSE:TG)

Bank of New York Mellon Corp lessened its stake in shares of Tredegar Co. (NYSE:TG) by 7.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 72,796 shares of the basic materials company’s stock after selling 6,060 shares during the quarter. Bank of New York Mellon Corp’s holdings in Tredegar were worth $559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC increased its holdings in shares of Tredegar by 161.5% in the 3rd quarter. FMR LLC now owns 9,445 shares of the basic materials company’s stock valued at $69,000 after purchasing an additional 5,833 shares in the last quarter. D Orazio & Associates Inc. purchased a new stake in shares of Tredegar during the 4th quarter worth about $84,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Tredegar in the third quarter worth about $85,000. SG Americas Securities LLC increased its stake in Tredegar by 30.9% during the 4th 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 period. Finally, MetLife Investment Management LLC acquired a new position in Tredegar during the 3rd quarter worth $112,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Tredegar from a “hold” rating to a “buy” rating in a report on Monday.

Tredegar Stock Performance

TG opened at $7.94 on Friday. The business has a 50 day moving average price of $7.71 and a two-hundred day moving average price of $7.55. Tredegar Co. has a 1-year low of $4.31 and a 1-year high of $9.22. The company has a market capitalization of $275.27 million, a price-to-earnings ratio of -10.05 and a beta of 0.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.79 and a quick ratio of 0.42.

Tredegar (NYSE:TG) last issued its earnings results on Wednesday, March 12th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $154.05 million for the quarter. Tredegar had a positive return on equity of 10.10% and a negative net margin of 3.84%.

Tredegar 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.