Tredegar Co. (NYSE:TG) Short Interest Down 22.4% in November

Tredegar Co. (NYSE:TG) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 147,400 shares, a drop of 22.4% from the October 31st total of 189,900 shares. Based on an average daily trading volume, of 114,400 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.5% of the shares of the stock are sold short.

Tredegar Price Performance

NYSE TG traded up $0.04 during trading hours on Friday, reaching $7.17. 83,737 shares of the stock traded hands, compared to its average volume of 119,554. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.79 and a quick ratio of 0.42. The stock has a 50 day simple moving average of $7.46 and a two-hundred day simple moving average of $6.20. Tredegar has a 1 year low of $3.98 and a 1 year high of $9.22. The company has a market cap of $246.37 million, a price-to-earnings ratio of -9.08 and a beta of 0.88.

Hedge Funds Weigh In On Tredegar

Large investors have recently modified their holdings of the company. Minerva Advisors LLC raised its position in Tredegar by 3.4% in the 3rd quarter. Minerva Advisors LLC now owns 1,663,107 shares of the basic materials company’s stock worth $12,124,000 after purchasing an additional 55,357 shares during the period. Vanguard Group Inc. increased its holdings in shares of Tredegar by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,369,270 shares of the basic materials company’s stock worth $8,928,000 after buying an additional 9,674 shares during the period. Gabelli Funds LLC increased its holdings in shares of Tredegar by 26.9% in the second quarter. Gabelli Funds LLC now owns 831,500 shares of the basic materials company’s stock worth $3,983,000 after buying an additional 176,091 shares during the period. State Street Corp boosted its holdings in Tredegar by 0.3% during the 3rd quarter. State Street Corp now owns 587,254 shares of the basic materials company’s stock valued at $4,281,000 after acquiring an additional 1,930 shares during the period. Finally, Geode Capital Management LLC grew its position in Tredegar by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 581,762 shares of the basic materials company’s stock worth $4,242,000 after acquiring an additional 7,812 shares during the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

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.