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

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

Glatfelter Price Performance

The stock’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 debt-to-equity ratio of 4.26, a quick ratio of 1.04 and a current ratio of 2.23. The firm has a market capitalization of $73.68 million, a PE ratio of -1.10 and a beta of 1.72.

Insider Activity at Glatfelter

In other news, major shareholder Carlson Capital, L.P. sold 3,846 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $23.66, for a total transaction of $90,996.36. Following the completion of the sale, the insider now owns 358,130 shares in the company, valued at approximately $8,473,355.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Glatfelter

A number of institutional investors and hedge funds have recently bought and sold shares of GLT. Cubist Systematic Strategies LLC bought a new position in Glatfelter in the 2nd quarter valued at $300,000. GSA Capital Partners LLP increased its holdings in Glatfelter by 226.5% during the third quarter. GSA Capital Partners LLP now owns 293,790 shares of the basic materials company’s stock worth $529,000 after buying an additional 203,822 shares during the last quarter. Clearline Capital LP increased its holdings in Glatfelter by 22.8% during the second quarter. Clearline Capital LP now owns 704,732 shares of the basic materials company’s stock worth $980,000 after buying an additional 130,923 shares during the last quarter. Bluefin Capital Management LLC bought a new position in Glatfelter during the first quarter worth $243,000. Finally, Vanguard Group Inc. boosted its position in Glatfelter by 4.1% during the first quarter. Vanguard Group Inc. now owns 2,369,984 shares of the basic materials company’s stock worth $4,740,000 after purchasing an additional 92,314 shares during the period. 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.