JPMorgan Chase & Co. Raises Stock Holdings in Tredegar Co. (NYSE:TG)

JPMorgan Chase & Co. raised its position in shares of Tredegar Co. (NYSE:TG) by 23.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,240 shares of the basic materials company’s stock after purchasing an additional 12,777 shares during the quarter. JPMorgan Chase & Co.’s holdings in Tredegar were worth $497,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Gladius Capital Management LP purchased a new position in shares of Tredegar during the 3rd quarter valued at about $40,000. FMR LLC raised its position in shares of Tredegar by 161.5% during the 3rd quarter. FMR LLC now owns 9,445 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 5,833 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Tredegar during the second quarter worth approximately $49,000. SG Americas Securities LLC purchased a new position in shares of Tredegar in the third quarter worth about $74,000. Finally, XTX Topco Ltd acquired a new position in Tredegar during the second quarter worth about $49,000. 79.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com cut Tredegar from a “buy” rating to a “hold” rating in a report on Tuesday, December 31st.

Tredegar Stock Up 0.9 %

Shares of NYSE:TG opened at $7.75 on Wednesday. Tredegar Co. has a 52-week low of $3.98 and a 52-week high of $9.22. 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 has a fifty day moving average of $7.67 and a two-hundred day moving average of $7.00. The stock has a market cap of $266.29 million, a P/E ratio of -9.81 and a beta of 0.81.

Tredegar (NYSE:TG) last announced its quarterly earnings results on Friday, November 8th. The basic materials company reported $0.01 EPS for the quarter. The business had revenue of $182.05 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.