40,000 Shares in Glatfelter Co. (NYSE:GLT) Purchased by Alpine Global Management LLC

Alpine Global Management LLC bought a new stake in shares of Glatfelter Co. (NYSE:GLT) in the first quarter, Holdings Channel reports. The fund bought 40,000 shares of the basic materials company’s stock, valued at approximately $80,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Teton Advisors Inc. raised its stake in Glatfelter by 38.9% in the 4th quarter. Teton Advisors Inc. now owns 25,000 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 7,000 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Glatfelter by 138.0% during 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 acquiring an additional 15,855 shares during the period. Gabelli Funds LLC lifted its position in shares of Glatfelter by 17.6% during the first quarter. Gabelli Funds LLC now owns 40,000 shares of the basic materials company’s stock worth $80,000 after acquiring an additional 6,000 shares in the last quarter. CastleKnight Management LP boosted its holdings in shares of Glatfelter by 25.6% in the fourth quarter. CastleKnight Management LP now owns 579,207 shares of the basic materials company’s stock worth $1,124,000 after acquiring an additional 117,910 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Glatfelter by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,369,984 shares of the basic materials company’s stock valued at $4,740,000 after purchasing an additional 92,314 shares in the last quarter. 76.92% of the stock is owned by institutional investors.

Glatfelter Price Performance

Shares of GLT stock remained flat at $1.49 during trading hours on Friday. 130,258 shares of the stock were exchanged, compared to its average volume of 651,612. The stock has a 50 day simple moving average of $1.59 and a two-hundred day simple moving average of $1.71. Glatfelter Co. has a one year low of $1.22 and a one year high of $3.52. The company has a current ratio of 2.31, a quick ratio of 1.13 and a debt-to-equity ratio of 3.89.

Glatfelter (NYSE:GLT) last announced its quarterly earnings results on Thursday, May 9th. The basic materials company reported ($0.33) EPS for the quarter. The firm had revenue of $327.26 million during the quarter. Glatfelter had a negative net margin of 6.88% and a negative return on equity of 18.86%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Glatfelter from a “hold” rating to a “sell” rating in a research note on Friday, May 10th.

Insider Activity at Glatfelter

In related news, major shareholder Carlson Capital L. P sold 207,325 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $1.65, for a total value of $342,086.25. Following the sale, the insider now directly owns 6,968,675 shares of the company’s stock, valued at $11,498,313.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.59% of the stock is owned by corporate insiders.

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.