Tredegar Co. (NYSE:TG – Get Free Report) was the target of a large growth in short interest in 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 daily trading volume, of 94,600 shares, the short-interest ratio is currently 3.4 days. Currently, 1.1% of the shares of the company are sold short.
Institutional Investors Weigh In On Tredegar
Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its position in 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 valued at $22,226,000 after acquiring an additional 2,528,530 shares during the period. Gamco Investors INC. ET AL increased its holdings in shares of Tredegar by 10.0% during the fourth quarter. Gamco Investors INC. ET AL now owns 5,623,809 shares of the basic materials company’s stock valued at $43,191,000 after purchasing an additional 513,415 shares during the period. American Century Companies Inc. raised its stake in shares of Tredegar by 35.0% during the fourth quarter. American Century Companies Inc. now owns 503,066 shares of the basic materials company’s stock valued at $3,864,000 after purchasing an additional 130,291 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Tredegar by 608.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 151,269 shares of the basic materials company’s stock worth $1,162,000 after purchasing an additional 129,909 shares during the period. Finally, Gabelli Funds LLC grew its position in Tredegar by 13.2% in the 4th quarter. Gabelli Funds LLC now owns 1,062,415 shares of the basic materials company’s stock valued at $8,159,000 after buying an additional 124,115 shares in the last quarter. Institutional investors own 79.24% of the company’s stock.
Tredegar Stock Performance
TG traded down $0.04 during trading on Monday, reaching $7.31. 87,938 shares of the company were exchanged, compared to its average volume of 106,276. 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 stock has a market cap of $251.01 million, a P/E ratio of -9.25 and a beta of 0.75. Tredegar has a 52 week low of $4.31 and a 52 week high of $9.22. The firm has a 50 day moving average of $7.70 and a 200 day moving average of $7.48.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered Tredegar from a “buy” rating to a “hold” rating in a report on Thursday.
Get Our Latest Stock Report on Tredegar
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.
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