Insider Selling: Glatfelter Co. (NYSE:GLT) Major Shareholder Sells 320,691 Shares of Stock

Glatfelter Co. (NYSE:GLT) major shareholder Carlson Capital, L.P. sold 320,691 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $1.74, for a total value of $558,002.34. Following the sale, the insider now directly owns 4,335,000 shares of the company’s stock, valued at $7,542,900. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Carlson Capital, L.P. also recently made the following trade(s):

• On Thursday, September 19th, Carlson Capital, L.P. sold 50,000 shares of Glatfelter stock. The stock was sold at an average price of $1.82, for a total value of $91,000.00.

Glatfelter Trading Down 4.8 %

Shares of Glatfelter stock opened at $1.77 on Friday. The company has a quick ratio of 1.06, a current ratio of 2.21 and a debt-to-equity ratio of 4.19. The firm has a market cap of $80.10 million, a price-to-earnings ratio of -0.87 and a beta of 1.73. Glatfelter Co. has a 52-week low of $1.22 and a 52-week high of $2.71. The company’s 50-day simple moving average is $1.64 and its 200-day simple moving average is $1.65.

Glatfelter (NYSE:GLT) last issued its earnings results on Thursday, August 8th. The basic materials company reported ($0.25) earnings per share (EPS) for the quarter. Glatfelter had a negative return on equity of 16.21% and a negative net margin of 5.44%. The business had revenue of $329.44 million for the quarter.

Hedge Funds Weigh In On Glatfelter

A number of institutional investors and hedge funds have recently made changes to their positions in GLT. Price T Rowe Associates Inc. MD purchased a new stake in Glatfelter during the first quarter worth about $30,000. Ground Swell Capital LLC acquired a new stake in shares of Glatfelter in the 2nd quarter worth approximately $38,000. Cowen AND Company LLC increased its stake in Glatfelter by 230.0% in the 2nd quarter. Cowen AND Company LLC now owns 33,000 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 23,000 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Glatfelter by 138.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 27,348 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 15,855 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new stake in Glatfelter in the first quarter valued at $80,000. 76.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Glatfelter from a “sell” rating to a “hold” rating in a research note on Friday, August 9th.

Glatfelter Company Profile

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.