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

StockNews.com began coverage on shares of Glatfelter (NYSE:GLT) in a report issued on Thursday morning. The brokerage issued a sell rating on the basic materials company’s stock.

Glatfelter Trading Down 6.9 %

Shares of Glatfelter stock opened at $21.05 on Thursday. 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 200-day simple moving average is $21.36. The firm has a market cap of $73.68 million, a price-to-earnings ratio of -1.10 and a beta of 1.72. Glatfelter has a 52-week low of $15.80 and a 52-week high of $35.23.

Insider Activity at Glatfelter

In other news, major shareholder Carlson Capital, L.P. sold 3,846 shares of Glatfelter stock in a transaction 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 completion of the transaction, the insider now owns 358,130 shares of the company’s stock, valued at $8,473,355.80. The trade was a 1.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.26% of the company’s stock.

Hedge Funds Weigh In On Glatfelter

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System grew its holdings in shares of 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 buying an additional 15,855 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Glatfelter by 4.1% during the first quarter. Vanguard Group Inc. now owns 2,369,984 shares of the basic materials company’s stock valued at $4,740,000 after purchasing an additional 92,314 shares during the period. Gabelli Funds LLC boosted its position in Glatfelter by 17.6% in the 1st quarter. Gabelli Funds LLC now owns 40,000 shares of the basic materials company’s stock valued at $80,000 after buying an additional 6,000 shares during the last quarter. Alpine Global Management LLC acquired a new stake in Glatfelter during the 1st quarter valued at approximately $80,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Glatfelter during the first quarter worth approximately $30,000. Institutional investors and hedge funds 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.