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

Tredegar Co. (NYSE:TG - Get Free Report) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 308,800 shares, a drop of 12.3% from the April 30th total of 352,100 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average trading volume of 86,500 shares, the short-interest ratio is currently 3.6 days.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Tredegar from a "buy" rating to a "hold" rating in a report on Friday, May 9th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new position in shares of Tredegar during the first quarter valued at $46,000. Occudo Quantitative Strategies LP acquired a new stake in Tredegar in the fourth quarter worth about $78,000. Price T Rowe Associates Inc. MD bought a new position in Tredegar in the 4th quarter valued at about $80,000. GAMMA Investing LLC increased its stake in Tredegar by 1,131.8% during the 1st quarter. GAMMA Investing LLC now owns 10,495 shares of the basic materials company's stock valued at $81,000 after buying an additional 9,643 shares during the period. Finally, D Orazio & Associates Inc. bought a new stake in shares of Tredegar during the 4th quarter worth about $84,000. Institutional investors own 79.24% of the company's stock.

Tredegar Stock Performance

TG traded up $0.10 during trading on Friday, reaching $8.63. 37,126 shares of the company were exchanged, compared to its average volume of 97,515. Tredegar has a 52 week low of $4.31 and a 52 week high of $9.22. 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 firm has a 50 day moving average of $7.83 and a 200 day moving average of $7.73. The stock has a market cap of $301.20 million, a P/E ratio of -10.92 and a beta of 0.82.

Tredegar (NYSE:TG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The basic materials company reported $0.10 EPS for the quarter. The business had revenue of $164.73 million during the quarter. Tredegar had a negative net margin of 3.84% and a positive return on equity of 10.10%.

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.