Glatfelter (NYSE:GLT) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Glatfelter (NYSE:GLT) in a research report report published on Friday morning. The firm issued a sell rating on the basic materials company’s stock.

Glatfelter Stock Down 6.9 %

Shares of NYSE:GLT opened at $21.05 on Friday. Glatfelter has a 1-year low of $15.80 and a 1-year high of $35.23. The company has a debt-to-equity ratio of 4.26, a current ratio of 2.23 and a quick ratio of 1.04. The stock has a market cap of $73.68 million, a P/E ratio of -1.10 and a beta of 1.72. The firm has a fifty day moving average price of $22.08 and a 200 day moving average price of $21.37.

Insider Buying and Selling

In other news, major shareholder Carlson Capital, L.P. sold 24,668 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $22.62, for a total transaction of $557,990.16. Following the completion of the sale, the insider now owns 333,461 shares in the company, valued at $7,542,887.82. This represents a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.26% of the company’s stock.

Hedge Funds Weigh In On Glatfelter

A number of hedge funds and other institutional investors have recently bought and sold shares of GLT. Bluefin Capital Management LLC lifted its stake in shares of Glatfelter by 10.4% in the 2nd quarter. Bluefin Capital Management LLC now owns 134,149 shares of the basic materials company’s stock worth $186,000 after acquiring an additional 12,596 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in Glatfelter in the first quarter valued at about $30,000. State Board of Administration of Florida Retirement System boosted its holdings in Glatfelter by 138.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 27,348 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 15,855 shares in the last quarter. Cowen AND Company LLC increased its position in Glatfelter by 230.0% during the 2nd quarter. Cowen AND Company LLC now owns 33,000 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 23,000 shares during the period. Finally, Ground Swell Capital LLC purchased a new position in shares of Glatfelter during the 2nd quarter worth approximately $38,000. 76.92% of the stock is currently owned by hedge funds and other institutional investors.

About Glatfelter

Glatfelter Corporation, together with its subsidiaries, engages in the manufacture and sale of engineered materials worldwide. It operates through three segments: Composite Fibers, Airlaid Materials, and Spunlace. The Composite Fibers segment offers food and beverage filtration materials for single-serve coffee and tea products; wallcover base materials for wallpaper manufacturers; metallized products that are used in labels, packaging liners, gift wraps, and other consumer product applications; composite laminates consisting of decorative laminates for use in furniture, household and commercial flooring, and other applications; and specialty engineered products, which are used in electrical energy storage, home, hygiene, and other engineered fiber-based applications.