Glatfelter (NYSE:GLT) Downgraded to Sell Rating by StockNews.com

StockNews.com downgraded shares of Glatfelter (NYSE:GLT) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Glatfelter Price Performance

Glatfelter stock opened at $21.05 on Friday. The stock has a market cap of $957.73 million, a P/E ratio of -14.32 and a beta of 1.72. The company has a quick ratio of 1.06, a current ratio of 2.23 and a debt-to-equity ratio of 4.26. The company’s 50 day moving average price is $1.70 and its two-hundred day moving average price is $1.64. Glatfelter has a 52 week low of $15.80 and a 52 week high of $35.23.

Glatfelter (NYSE:GLT) last posted its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.25) earnings per share for the quarter. Glatfelter had a negative net margin of 5.08% and a negative return on equity of 17.71%. The company had revenue of $329.44 million for the quarter.

Insider Buying and Selling at Glatfelter

In related news, major shareholder Carlson Capital, L.P. sold 320,691 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $1.74, for a total value of $558,002.34. Following the sale, the insider now directly owns 4,335,000 shares in the company, valued at approximately $7,542,900. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GLT. Gabelli Funds LLC boosted its holdings in shares of Glatfelter by 17.6% in 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. Bluefin Capital Management LLC grew its stake in Glatfelter by 10.4% during the second quarter. Bluefin Capital Management LLC now owns 134,149 shares of the basic materials company’s stock valued at $186,000 after acquiring an additional 12,596 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Glatfelter during the 1st quarter worth approximately $30,000. State Board of Administration of Florida Retirement System increased its holdings in Glatfelter by 138.0% during 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 acquiring an additional 15,855 shares during the period. Finally, Cowen AND Company LLC boosted 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 valued at $46,000 after purchasing an additional 23,000 shares during the period. 76.92% of the stock is currently owned by hedge funds and other 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.