Glatfelter (NYSE:GLT) Lowered to “Sell” Rating by StockNews.com

Glatfelter (NYSE:GLT) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Glatfelter Price Performance

Shares of GLT traded down $0.08 during mid-day trading on Friday, hitting $1.73. The company’s stock had a trading volume of 1,692,084 shares, compared to its average volume of 722,122. The company has a debt-to-equity ratio of 4.19, a current ratio of 2.21 and a quick ratio of 1.06. The firm has a 50-day moving average price of $1.70 and a 200 day moving average price of $1.64. Glatfelter has a fifty-two week low of $1.22 and a fifty-two week high of $2.71. The stock has a market capitalization of $78.32 million, a price-to-earnings ratio of -1.17 and a beta of 1.74.

Glatfelter (NYSE:GLT) last posted its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.25) earnings per share (EPS) for the quarter. The company had revenue of $329.44 million during the quarter. Glatfelter had a negative net margin of 5.08% and a negative return on equity of 17.28%.

Insider Buying and Selling

In related news, major shareholder Carlson Capital, L.P. sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $1.82, for a total value of $91,000.00. Following the completion of the sale, the insider now owns 4,655,691 shares in the company, valued at approximately $8,473,357.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD acquired a new position in shares of Glatfelter in the 1st quarter valued at about $30,000. Ground Swell Capital LLC purchased a new position in Glatfelter during the second quarter valued at 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 buying an additional 23,000 shares during the period. State Board of Administration of Florida Retirement System lifted its position 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 worth $55,000 after buying an additional 15,855 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new stake in shares of Glatfelter during the 1st quarter valued at $80,000. 76.92% of the stock is owned by institutional investors and hedge funds.

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.