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

StockNews.com assumed coverage on shares of Glatfelter (NYSE:GLT) in a research note published on Wednesday morning. The brokerage issued a sell rating on the basic materials company’s stock.

Glatfelter Price Performance

The stock’s 50 day moving average price is $22.08 and its 200 day moving average price is $21.36. Glatfelter has a 12-month low of $15.80 and a 12-month high of $35.23. The firm has a market capitalization of $73.68 million, a price-to-earnings ratio of -1.10 and a beta of 1.72. The company has a debt-to-equity ratio of 4.26, a quick ratio of 1.04 and a current ratio of 2.23.

Insider Activity

In other Glatfelter news, major shareholder Carlson Capital, L.P. sold 3,846 shares of Glatfelter stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $23.66, for a total value of $90,996.36. Following the transaction, the insider now directly owns 358,130 shares in the company, valued at approximately $8,473,355.80. This trade represents a 1.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 the company. State Board of Administration of Florida Retirement System increased its stake in shares of 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 acquiring an additional 15,855 shares during the period. Vanguard Group Inc. raised its position in Glatfelter by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,369,984 shares of the basic materials company’s stock worth $4,740,000 after acquiring an additional 92,314 shares in the last quarter. Gabelli Funds LLC lifted its holdings in Glatfelter by 17.6% in the first quarter. Gabelli Funds LLC now owns 40,000 shares of the basic materials company’s stock valued at $80,000 after acquiring an additional 6,000 shares during the period. Alpine Global Management LLC purchased a new stake in shares of Glatfelter during the 1st quarter worth $80,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Glatfelter during the 1st quarter worth $30,000. 76.92% of the stock is currently owned by hedge funds and other institutional investors.

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.