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

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

Glatfelter Price Performance

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

Insider Transactions at Glatfelter

In other Glatfelter news, major shareholder Carlson Capital, L.P. sold 3,846 shares of Glatfelter stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $23.66, for a total transaction of $90,996.36. Following the sale, the insider now directly owns 358,130 shares of the company’s stock, valued at approximately $8,473,355.80. The trade was a 1.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new stake in Glatfelter in the second quarter worth $300,000. GSA Capital Partners LLP grew its position in shares of Glatfelter by 226.5% in the 3rd 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 period. Clearline Capital LP increased its stake in shares of Glatfelter by 22.8% in the 2nd quarter. Clearline Capital LP now owns 704,732 shares of the basic materials company’s stock worth $980,000 after acquiring an additional 130,923 shares in the last quarter. Vanguard Group Inc. lifted its position in Glatfelter by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,369,984 shares of the basic materials company’s stock valued at $4,740,000 after acquiring an additional 92,314 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Glatfelter during the 2nd quarter valued at about $113,000. 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.