Tredegar Co. (NYSE:TG) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 504,400 shares, a growth of 18.4% from the January 15th total of 425,900 shares. Based on an average daily volume of 89,800 shares, the short-interest ratio is presently 5.6 days. Approximately 1.8% of the company’s stock are short sold.
Shares of Tredegar stock traded down $0.23 on Friday, reaching $20.57. 48,122 shares of the company traded hands, compared to its average volume of 74,949. Tredegar has a 52 week low of $14.89 and a 52 week high of $23.48. The company has a 50 day moving average of $21.44 and a 200 day moving average of $20.07. The firm has a market capitalization of $687.68 million, a PE ratio of 8.79 and a beta of 1.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.69 and a quick ratio of 1.13.
A number of hedge funds and other institutional investors have recently bought and sold shares of TG. Manchester Financial Inc. purchased a new stake in shares of Tredegar during the 4th quarter valued at $44,000. SG Americas Securities LLC purchased a new stake in shares of Tredegar during the 4th quarter valued at $122,000. Meeder Asset Management Inc. raised its position in shares of Tredegar by 20.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 6,438 shares of the basic materials company’s stock valued at $125,000 after buying an additional 1,077 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Tredegar by 28.0% during the 4th quarter. Victory Capital Management Inc. now owns 6,047 shares of the basic materials company’s stock valued at $135,000 after buying an additional 1,324 shares in the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Tredegar during the 4th quarter valued at $232,000. Institutional investors and hedge funds own 65.05% of the company’s stock.
Tredegar Corporation, through its subsidiaries, manufactures and sells polyethylene (PE) plastic films, polyester films, and aluminum extrusions worldwide. It operates through PE Films, Flexible Packaging Films, and Aluminum Extrusions segments. The PE Films segment offers personal care materials, such as apertured films and laminate materials for use in feminine hygiene products, baby diapers, and adult incontinence products under the ComfortAire, ComfortFeel, and FreshFeel brands; elastic materials for use as components for baby diapers, adult incontinence products, and feminine hygiene products under the ExtraFlex and FlexAire brands; and three-dimensional apertured film transfer layers for baby diapers and adult incontinence products under the AquiSoft, AquiDry, and AquiDry Plus brands.
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