Tredegar Co. (NYSE:TG) Short Interest Update


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Tredegar Co. (NYSE:TG) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 641,600 shares, a growth of 21.0% from the March 31st total of 530,300 shares. Based on an average daily trading volume, of 154,100 shares, the short-interest ratio is presently 4.2 days. Approximately 2.2% of the shares of the company are sold short.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. DAVENPORT & Co LLC raised its holdings in Tredegar by 2.4% during the first quarter. DAVENPORT & Co LLC now owns 33,277 shares of the basic materials company’s stock worth $499,000 after purchasing an additional 773 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Tredegar by 364.4% during the first quarter. Pacer Advisors Inc. now owns 44,318 shares of the basic materials company’s stock worth $665,000 after purchasing an additional 34,775 shares in the last quarter. Norges Bank purchased a new position in Tredegar during the fourth quarter worth about $1,741,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Tredegar during the fourth quarter worth about $1,186,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Tredegar by 20.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,565 shares of the basic materials company’s stock worth $243,000 after purchasing an additional 2,440 shares in the last quarter. 64.45% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:TG traded up $0.27 on Tuesday, reaching $15.36. The company’s stock had a trading volume of 7,228 shares, compared to its average volume of 164,010. The stock’s 50-day moving average is $15.44 and its two-hundred day moving average is $16.27. Tredegar has a 52-week low of $12.80 and a 52-week high of $23.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.63 and a quick ratio of 1.20. The stock has a market capitalization of $515.14 million, a P/E ratio of -6.37 and a beta of 1.04.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Friday, March 12th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, March 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.13%.

About Tredegar

Tredegar Corporation, through its subsidiaries, manufactures and sells aluminum extrusions, PE Films, and polyester films in the United States and internationally. It operates through Aluminum Extrusions, PE Films, and Flexible Packaging Films segments. The Aluminum Extrusions segment produces soft-alloy and medium-strength aluminum extrusions primarily for 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 fabricated aluminum extrusions to fabricators and distributors.

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