Tredegar Co. (NYSE:TG) Short Interest Update

Tredegar Co. (NYSE:TG) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 164,600 shares, an increase of 17.1% from the August 31st total of 140,600 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 93,100 shares, the days-to-cover ratio is currently 1.8 days.

Tredegar Price Performance

Shares of TG stock traded down $0.02 on Monday, reaching $7.23. The company’s stock had a trading volume of 40,278 shares, compared to its average volume of 116,884. Tredegar has a 12-month low of $3.98 and a 12-month high of $7.45. The stock’s 50 day simple moving average is $6.02 and its 200-day simple moving average is $5.80. The company has a quick ratio of 0.41, a current ratio of 0.78 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $249.51 million, a P/E ratio of -2.44 and a beta of 0.89.

Tredegar (NYSE:TG) last announced its earnings results on Wednesday, August 7th. The basic materials company reported $0.30 earnings per share for the quarter. Tredegar had a negative net margin of 10.56% and a positive return on equity of 6.82%. The business had revenue of $190.56 million for the quarter.

Hedge Funds Weigh In On Tredegar

A number of large investors have recently modified their holdings of the company. Trexquant Investment LP grew its holdings in shares of Tredegar by 5.9% during the 4th quarter. Trexquant Investment LP now owns 51,519 shares of the basic materials company’s stock valued at $279,000 after purchasing an additional 2,891 shares during the last quarter. Cove Street Capital LLC grew its stake in shares of Tredegar by 510.0% during the fourth quarter. Cove Street Capital LLC now owns 11,004 shares of the basic materials company’s stock valued at $60,000 after buying an additional 9,200 shares during the last quarter. Gabelli Funds LLC increased its holdings in shares of Tredegar by 4.8% in the fourth quarter. Gabelli Funds LLC now owns 600,500 shares of the basic materials company’s stock worth $3,249,000 after buying an additional 27,500 shares during the period. HB Wealth Management LLC lifted its stake in shares of Tredegar by 29.8% in the 1st quarter. HB Wealth Management LLC now owns 30,005 shares of the basic materials company’s stock valued at $196,000 after acquiring an additional 6,888 shares during the last quarter. Finally, Heritage Wealth Advisors boosted its holdings in Tredegar by 8,309.6% during the 1st quarter. Heritage Wealth Advisors now owns 20,183 shares of the basic materials company’s stock valued at $132,000 after acquiring an additional 19,943 shares during the period. 79.24% of the stock is owned by hedge funds and other institutional investors.

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.