StockNews.com Initiates Coverage on Glatfelter (NYSE:GLT)

Analysts at StockNews.com started coverage on shares of Glatfelter (NYSE:GLT) in a research note issued to investors on Thursday. The brokerage set a “sell” rating on the basic materials company’s stock.

Glatfelter Stock Performance

Glatfelter has a 1 year low of $15.80 and a 1 year high of $35.23. The company has a current ratio of 2.23, a quick ratio of 1.04 and a debt-to-equity ratio of 4.26. The business’s 50 day simple moving average is $22.08 and its 200-day simple moving average is $21.36. The company has a market capitalization of $73.68 million, a price-to-earnings ratio of -1.10 and a beta of 1.72.

Insider Activity

In other news, major shareholder Carlson Capital, L.P. sold 24,668 shares of the 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 sale, the insider now directly owns 333,461 shares of the company’s stock, valued at approximately $7,542,887.82. This represents a 6.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Glatfelter

Large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD bought a new stake in shares of Glatfelter during the 1st quarter worth approximately $30,000. State Board of Administration of Florida Retirement System boosted its holdings in shares of Glatfelter by 138.0% in the 1st 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 purchasing an additional 15,855 shares in the last quarter. Ground Swell Capital LLC bought a new position in shares of Glatfelter in the 2nd quarter valued at $38,000. Cowen AND Company LLC raised its holdings in shares of Glatfelter by 230.0% during the 2nd quarter. Cowen AND Company LLC now owns 33,000 shares of the basic materials company’s stock worth $46,000 after buying an additional 23,000 shares in the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of Glatfelter by 17.6% during the 1st quarter. Gabelli Funds LLC now owns 40,000 shares of the basic materials company’s stock worth $80,000 after buying an additional 6,000 shares during the last quarter. 76.92% of the stock is currently owned by institutional investors and hedge funds.

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.