Glatfelter (NYSE:GLT) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Glatfelter (NYSE:GLT) in a research report released on Thursday morning. The brokerage issued a sell rating on the basic materials company’s stock.

Glatfelter Price Performance

Glatfelter has a 1-year low of $15.80 and a 1-year high of $35.23. The company has a fifty day moving average price of $22.08 and a 200 day moving average price of $21.36. The company has a current ratio of 2.23, a quick ratio of 1.04 and a debt-to-equity ratio of 4.26. The firm has a market capitalization of $73.68 million, a PE ratio of -1.10 and a beta of 1.72.

Insider Activity

In other news, major shareholder Carlson Capital, L.P. sold 3,846 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $23.66, for a total transaction of $90,996.36. Following the sale, the insider now owns 358,130 shares of the company’s stock, valued at approximately $8,473,355.80. This trade represents a 1.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.26% of the company’s stock.

Hedge Funds Weigh In On Glatfelter

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP boosted its holdings in shares of Glatfelter by 34.8% in the 2nd quarter. Marshall Wace LLP now owns 134,465 shares of the basic materials company’s stock valued at $187,000 after buying an additional 34,679 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Glatfelter in the first quarter valued at $30,000. Vanguard Group Inc. grew its holdings in shares of Glatfelter by 4.1% during the first quarter. Vanguard Group Inc. now owns 2,369,984 shares of the basic materials company’s stock worth $4,740,000 after purchasing an additional 92,314 shares during the last quarter. XTX Topco Ltd increased its position in shares of Glatfelter by 30.0% during the second quarter. XTX Topco Ltd now owns 121,192 shares of the basic materials company’s stock worth $168,000 after purchasing an additional 27,943 shares in the last quarter. Finally, Bluefin Capital Management LLC lifted its holdings 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 valued at $186,000 after purchasing an additional 12,596 shares during the last quarter. 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.