StockNews.com Initiates Coverage on Glatfelter (NYSE:GLT)

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

Glatfelter Stock Performance

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

Insider Buying and Selling

In other Glatfelter news, major shareholder Carlson Capital, L.P. sold 24,668 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $22.62, for a total transaction of $557,990.16. Following the completion of the transaction, the insider now owns 333,461 shares of the company’s stock, valued at approximately $7,542,887.82. This trade represents a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD purchased a new position in shares of Glatfelter during the first quarter valued at approximately $30,000. Ground Swell Capital LLC purchased a new stake in shares of Glatfelter during the second quarter valued at $38,000. Cowen AND Company LLC increased its holdings 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 worth $46,000 after buying an additional 23,000 shares in the last quarter. State Board of Administration of Florida Retirement System raised 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 during the last quarter. Finally, Gabelli Funds LLC lifted its stake in Glatfelter by 17.6% during the 1st 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. 76.92% of the stock is 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.