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

Analysts at StockNews.com started coverage on shares of Glatfelter (NYSE:GLT) in a research report issued on Wednesday. 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. The company’s 50 day simple moving average is $22.08 and its two-hundred day simple moving average is $21.36. 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 price-to-earnings ratio of -1.10 and a beta of 1.72.

Insider Buying and Selling at Glatfelter

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 transaction, the insider now directly owns 333,461 shares in the company, valued at approximately $7,542,887.82. This trade represents a 6.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.26% of the company’s stock.

Institutional Trading of Glatfelter

Several institutional investors and hedge funds have recently made changes to their positions in GLT. Price T Rowe Associates Inc. MD bought a new stake in Glatfelter in the 1st quarter worth about $30,000. Ground Swell Capital LLC bought a new position in shares of Glatfelter in the second quarter valued at approximately $38,000. Cowen AND Company LLC increased its position in shares of Glatfelter by 230.0% during the second quarter. Cowen AND Company LLC now owns 33,000 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 23,000 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings 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 worth $55,000 after acquiring an additional 15,855 shares during the period. Finally, Gabelli Funds LLC boosted its position in 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 purchasing an additional 6,000 shares during the last quarter. Hedge funds and other 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.