Tredegar Co. (NYSE:TG) Short Interest Up 33.6% in February

Tredegar Co. (NYSE:TG) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 324,300 shares, a growth of 33.6% from the February 13th total of 242,800 shares. Based on an average trading volume of 94,600 shares, the short-interest ratio is currently 3.4 days. Approximately 1.1% of the company’s shares are sold short.

Tredegar Stock Down 0.5 %

TG stock traded down $0.04 during trading on Monday, reaching $7.31. The stock had a trading volume of 87,938 shares, compared to its average volume of 106,276. The firm has a fifty day moving average price of $7.70 and a 200 day moving average price of $7.48. The company has a current ratio of 0.79, a quick ratio of 0.42 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $251.01 million, a P/E ratio of -9.25 and a beta of 0.75. Tredegar has a 1-year low of $4.31 and a 1-year high of $9.22.

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

Hedge Funds Weigh In On Tredegar

Several institutional investors and hedge funds have recently made changes to their positions in TG. Occudo Quantitative Strategies LP acquired a new stake in shares of Tredegar in the 4th quarter valued at about $78,000. Deutsche Bank AG raised its stake in Tredegar by 33.3% during the fourth quarter. Deutsche Bank AG now owns 26,872 shares of the basic materials company’s stock valued at $206,000 after buying an additional 6,719 shares in the last quarter. CastleKnight Management LP lifted its holdings in Tredegar by 137.5% during the 4th quarter. CastleKnight Management LP now owns 214,300 shares of the basic materials company’s stock worth $1,646,000 after buying an additional 124,079 shares during the last quarter. Bank of America Corp DE grew its position in shares of Tredegar by 691.9% in the 4th quarter. Bank of America Corp DE now owns 2,893,980 shares of the basic materials company’s stock worth $22,226,000 after acquiring an additional 2,528,530 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Tredegar by 3.8% in the 4th quarter. Northern Trust Corp now owns 233,068 shares of the basic materials company’s stock valued at $1,790,000 after acquiring an additional 8,459 shares during the last quarter. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.