Short Interest in Tredegar Co. (NYSE:TG) Grows By 33.6%

Tredegar Co. (NYSE:TG) was the recipient of a significant increase in short interest in 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 currently 3.4 days. Currently, 1.1% of the shares of the company are short sold.

Analysts Set New Price Targets

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

Tredegar Stock Performance

TG stock traded down $0.05 on Tuesday, hitting $7.27. The company had a trading volume of 25,609 shares, compared to its average volume of 105,940. The company has a current ratio of 0.79, a quick ratio of 0.42 and a debt-to-equity ratio of 0.13. Tredegar has a 12-month low of $4.31 and a 12-month high of $9.22. The stock has a market cap of $252.10 million, a price-to-earnings ratio of -9.20 and a beta of 0.75. The stock’s 50-day simple moving average is $7.70 and its 200 day simple moving average is $7.48.

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

Hedge Funds Weigh In On Tredegar

Several institutional investors have recently made changes to their positions in TG. Gladius Capital Management LP bought a new position in Tredegar in the third quarter worth approximately $40,000. Minerva Advisors LLC lifted its position in Tredegar by 3.4% during the third quarter. Minerva Advisors LLC now owns 1,663,107 shares of the basic materials company’s stock valued at $12,124,000 after purchasing an additional 55,357 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Tredegar by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 75,132 shares of the basic materials company’s stock valued at $548,000 after purchasing an additional 4,000 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Tredegar in the third quarter worth about $85,000. Finally, FMR LLC raised its stake in shares of Tredegar by 161.5% in 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. Institutional investors own 79.24% of the company’s stock.

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.