Tredegar Co. (NYSE:TG) Sees Large Increase in Short Interest

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL lifted its position in shares of Tredegar by 9.0% during the first quarter. Gamco Investors INC. ET AL now owns 4,453,630 shares of the basic materials company’s stock worth $29,038,000 after purchasing an additional 367,602 shares during the last quarter. Gabelli Funds LLC boosted its holdings in 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 acquiring an additional 176,091 shares in the last quarter. American Century Companies Inc. increased its stake in Tredegar by 66.5% during the 2nd quarter. American Century Companies Inc. now owns 368,376 shares of the basic materials company’s stock valued at $1,765,000 after purchasing an additional 147,158 shares in the last quarter. Bank of Montreal Can purchased a new position in Tredegar in the 2nd quarter worth $685,000. Finally, HB Wealth Management LLC lifted its stake in Tredegar by 198.6% during the 2nd quarter. HB Wealth Management LLC now owns 89,580 shares of the basic materials company’s stock valued at $429,000 after acquiring an additional 59,575 shares during the period. 79.24% of the stock is currently owned by institutional investors.

Tredegar Price Performance

TG stock traded up $0.05 during mid-day trading on Monday, hitting $7.30. 35,022 shares of the stock were exchanged, compared to its average volume of 116,866. Tredegar has a 12 month low of $3.98 and a 12 month high of $7.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.78 and a quick ratio of 0.41. The business has a fifty day moving average price of $6.02 and a 200 day moving average price of $5.80. The stock has a market capitalization of $251.92 million, a price-to-earnings ratio of -2.44 and a beta of 0.89.

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

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.