Glatfelter (NYSE:GLT) Coverage Initiated by Analysts at StockNews.com

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

Glatfelter Stock Performance

The business has a 50-day simple moving average of $22.08 and a two-hundred day simple moving average of $21.37. The stock has a market capitalization of $73.68 million, a PE ratio of -1.10 and a beta of 1.72. The company has a debt-to-equity ratio of 4.26, a current ratio of 2.23 and a quick ratio of 1.04. Glatfelter has a 52-week low of $15.80 and a 52-week high of $35.23.

Insiders Place Their Bets

In other 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 value of $557,990.16. Following the completion of the transaction, the insider now owns 333,461 shares in the company, valued at $7,542,887.82. This trade represents a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new position in shares of Glatfelter in the first quarter valued at $30,000. Ground Swell Capital LLC purchased a new position in shares of Glatfelter in the second quarter valued at $38,000. Cowen AND Company LLC increased its position in shares of Glatfelter by 230.0% in the second quarter. Cowen AND Company LLC now owns 33,000 shares of the basic materials company’s stock valued at $46,000 after buying an additional 23,000 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Glatfelter by 138.0% in 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 buying an additional 15,855 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Glatfelter by 75.3% in the second quarter. Renaissance Technologies LLC now owns 69,000 shares of the basic materials company’s stock valued at $96,000 after buying an additional 29,628 shares in the last quarter. Hedge funds and other institutional investors own 76.92% of the company’s stock.

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.