Tredegar Co. (NYSE:TG) was the recipient of a significant decrease in short interest in June. As of June 30th, there was short interest totalling 528,100 shares, a decrease of 11.4% from the May 30th total of 595,900 shares. Based on an average daily volume of 88,400 shares, the short-interest ratio is currently 6.0 days. Currently, 1.8% of the company’s shares are sold short.
Shares of NYSE:TG opened at $16.95 on Friday. Tredegar has a 52 week low of $14.85 and a 52 week high of $26.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.88 and a quick ratio of 1.23. The company has a market capitalization of $562.72 million, a P/E ratio of 13.45 and a beta of 1.09. The firm has a 50 day moving average price of $16.27.
Tredegar (NYSE:TG) last issued its earnings results on Thursday, May 9th. The basic materials company reported $0.22 EPS for the quarter. Tredegar had a net margin of 2.51% and a return on equity of 11.68%. The firm had revenue of $248.47 million during the quarter.
The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.60%. The ex-dividend date was Thursday, June 13th.
Several equities research analysts have commented on the stock. ValuEngine downgraded shares of Valero Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. TheStreet raised shares of Vermilion Energy from a “d+” rating to a “c” rating in a research note on Friday, March 22nd.
Hedge funds have recently modified their holdings of the company. Quantamental Technologies LLC increased its position in shares of Tredegar by 100.0% during the first quarter. Quantamental Technologies LLC now owns 2,200 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 1,100 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Tredegar by 206.0% during the first quarter. Meeder Asset Management Inc. now owns 3,452 shares of the basic materials company’s stock worth $56,000 after acquiring an additional 2,324 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Tredegar by 208.0% during the first quarter. BNP Paribas Arbitrage SA now owns 6,098 shares of the basic materials company’s stock worth $98,000 after acquiring an additional 4,118 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of Tredegar during the fourth quarter worth $114,000. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Tredegar by 354.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,818 shares of the basic materials company’s stock worth $124,000 after acquiring an additional 6,097 shares in the last quarter. 65.53% of the stock is owned by institutional investors.
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.
Further Reading: Buy Rating
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