Tredegar Co. (NYSE:TG) Sees Significant Growth in Short Interest

Tredegar Co. (NYSE:TG - Get Free Report) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 324,300 shares, an increase of 33.6% from the February 13th total of 242,800 shares. Based on an average daily volume of 94,600 shares, the days-to-cover ratio is presently 3.4 days. Approximately 1.1% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Tredegar from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th.

Tredegar Trading Up 1.7 %

NYSE:TG traded up $0.13 on Thursday, reaching $7.64. 37,370 shares of the company's stock were exchanged, compared to its average volume of 104,198. The business has a fifty day moving average of $7.70 and a 200-day moving average of $7.48. The company has a quick ratio of 0.42, a current ratio of 0.79 and a debt-to-equity ratio of 0.13. Tredegar has a 52-week low of $4.31 and a 52-week high of $9.22. The firm has a market capitalization of $264.76 million, a price-to-earnings ratio of -9.69 and a beta of 0.75.

Tredegar (NYSE:TG - Get Free Report) last announced its earnings results on Wednesday, March 12th. The basic materials company reported $0.06 earnings per share 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 $154.05 million for the quarter.

Remove Ads

Institutional Trading of Tredegar

Several hedge funds have recently modified their holdings of TG. Gladius Capital Management LP purchased a new stake in Tredegar during the 3rd quarter worth about $40,000. FMR LLC increased its stake in shares of Tredegar by 161.5% during the third quarter. FMR LLC now owns 9,445 shares of the basic materials company's stock worth $69,000 after buying an additional 5,833 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in Tredegar in the fourth quarter valued at approximately $78,000. Price T Rowe Associates Inc. MD purchased a new position in Tredegar in the fourth quarter worth approximately $80,000. Finally, D Orazio & Associates Inc. acquired a new position in Tredegar during the 4th quarter worth approximately $84,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

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.