Glatfelter (NYSE:GLT) Now Covered by StockNews.com

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

Glatfelter Price Performance

The company has a 50-day simple moving average of $22.08 and a 200 day simple moving average of $21.37. The company has a debt-to-equity ratio of 4.26, a current ratio of 2.23 and a quick ratio of 1.04. The firm has a market capitalization of $73.68 million, a P/E ratio of -1.10 and a beta of 1.72. Glatfelter has a fifty-two week low of $15.80 and a fifty-two week high of $35.23.

Insider Activity at Glatfelter

In related news, major shareholder Carlson Capital, L.P. sold 3,846 shares of the company’s 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 completion of the transaction, the insider now directly owns 358,130 shares of the company’s stock, valued at $8,473,355.80. This represents a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Glatfelter

Several large investors have recently modified their holdings of GLT. Price T Rowe Associates Inc. MD acquired a new stake in shares of Glatfelter in the first quarter valued at approximately $30,000. Ground Swell Capital LLC acquired a new stake in shares of Glatfelter in the second quarter valued at approximately $38,000. Cowen AND Company LLC boosted its holdings in shares of Glatfelter by 230.0% in the second quarter. Cowen AND Company LLC now owns 33,000 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 23,000 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of Glatfelter by 138.0% in the first 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. Finally, Renaissance Technologies LLC boosted its holdings in shares of Glatfelter by 75.3% in the second quarter. Renaissance Technologies LLC now owns 69,000 shares of the basic materials company’s stock valued at $96,000 after acquiring an additional 29,628 shares during the period. 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.