Glatfelter Co. (NYSE:GLT) Stock Position Raised by Clearline Capital LP

Clearline Capital LP boosted its holdings in Glatfelter Co. (NYSE:GLT) by 22.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 704,732 shares of the basic materials company’s stock after acquiring an additional 130,923 shares during the period. Clearline Capital LP owned about 1.56% of Glatfelter worth $980,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Glatfelter during the 2nd quarter worth approximately $113,000. Squarepoint Ops LLC increased its position in Glatfelter by 59.3% in the second quarter. Squarepoint Ops LLC now owns 186,216 shares of the basic materials company’s stock worth $259,000 after buying an additional 69,314 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Glatfelter in the second quarter valued at $300,000. Marshall Wace LLP boosted its holdings in shares of Glatfelter by 34.8% during the second quarter. Marshall Wace LLP now owns 134,465 shares of the basic materials company’s stock valued at $187,000 after acquiring an additional 34,679 shares during the period. Finally, XTX Topco Ltd grew 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 acquiring an additional 27,943 shares during the last quarter. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Glatfelter Stock Performance

Shares of NYSE GLT opened at $1.77 on Friday. Glatfelter Co. has a 12-month low of $1.22 and a 12-month high of $2.71. The company has a current ratio of 2.21, a quick ratio of 1.06 and a debt-to-equity ratio of 4.19. The company has a market cap of $80.10 million, a PE ratio of -0.87 and a beta of 1.73. The stock has a 50 day simple moving average of $1.64 and a 200-day simple moving average of $1.65.

Glatfelter (NYSE:GLT) last released its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.25) EPS for the quarter. The company had revenue of $329.44 million for the quarter. Glatfelter had a negative return on equity of 16.21% and a negative net margin of 5.44%.

Insider Buying and Selling

In other Glatfelter news, major shareholder Carlson Capital, L.P. sold 50,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $1.82, for a total transaction of $91,000.00. Following the completion of the transaction, the insider now directly owns 4,655,691 shares of the company’s stock, valued at approximately $8,473,357.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.59% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Glatfelter from a “sell” rating to a “hold” rating in a research report on Friday, August 9th.

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.