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

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

Glatfelter Price Performance

Shares of NYSE:GLT opened at $21.05 on Thursday. The company has a market cap of $73.68 million, a P/E ratio of -1.10 and a beta of 1.72. Glatfelter has a 12-month low of $15.80 and a 12-month high of $35.23. The company has a quick ratio of 1.04, a current ratio of 2.23 and a debt-to-equity ratio of 4.26. The company’s fifty day moving average is $22.08 and its two-hundred day moving average is $21.36.

Insider Buying and Selling

In related news, major shareholder Carlson Capital, L.P. sold 24,668 shares of Glatfelter 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Glatfelter

Large investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its stake in shares of 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 valued at $55,000 after purchasing an additional 15,855 shares during the last quarter. Vanguard Group Inc. increased its position in Glatfelter by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,369,984 shares of the basic materials company’s stock worth $4,740,000 after buying an additional 92,314 shares during the period. Gabelli Funds LLC increased its position in Glatfelter by 17.6% during the first quarter. Gabelli Funds LLC now owns 40,000 shares of the basic materials company’s stock worth $80,000 after acquiring an additional 6,000 shares during the period. Alpine Global Management LLC acquired a new position in shares of Glatfelter during the first quarter valued at about $80,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Glatfelter in the 1st quarter valued at approximately $30,000. Institutional investors own 76.92% of the company’s stock.

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.