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

StockNews.com initiated coverage on shares of Glatfelter (NYSE:GLT) in a report issued on Friday. The brokerage set a “sell” rating on the basic materials company’s stock.

Glatfelter Stock Performance

The company has a quick ratio of 1.04, a current ratio of 2.23 and a debt-to-equity ratio of 4.26. Glatfelter has a one year low of $15.80 and a one year high of $35.23. The company has a market cap of $73.68 million, a PE ratio of -1.10 and a beta of 1.72. The company’s 50-day moving average is $22.08 and its 200-day moving average is $21.37.

Insider Buying and Selling at Glatfelter

In other Glatfelter news, major shareholder Carlson Capital, L.P. sold 24,668 shares of Glatfelter stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $22.62, for a total value of $557,990.16. Following the sale, the insider now owns 333,461 shares of the company’s stock, valued at $7,542,887.82. The trade was a 6.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Glatfelter

Several large investors have recently added to or reduced their stakes in GLT. Price T Rowe Associates Inc. MD purchased a new position in Glatfelter during the 1st quarter valued at about $30,000. State Board of Administration of Florida Retirement System boosted its position in Glatfelter by 138.0% during 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 purchasing an additional 15,855 shares in the last quarter. Ground Swell Capital LLC purchased a new position in Glatfelter in the second quarter valued at about $38,000. Cowen AND Company LLC raised its holdings in Glatfelter by 230.0% in the second quarter. Cowen AND Company LLC now owns 33,000 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 23,000 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Glatfelter by 75.3% in the second quarter. Renaissance Technologies LLC now owns 69,000 shares of the basic materials company’s stock worth $96,000 after purchasing an additional 29,628 shares in the last quarter. 76.92% of the stock is owned by institutional investors.

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.