Carlson Capital, L.P. Sells 50,000 Shares of Glatfelter Co. (NYSE:GLT) Stock

Glatfelter Co. (NYSE:GLT) major shareholder Carlson Capital, L.P. sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $1.82, for a total value of $91,000.00. Following the sale, the insider now directly owns 4,655,691 shares of the company’s stock, valued at $8,473,357.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Glatfelter Stock Performance

Shares of GLT traded up $0.11 on Monday, reaching $1.79. 201,957 shares of the company’s stock traded hands, compared to its average volume of 747,897. The company has a current ratio of 2.21, a quick ratio of 1.06 and a debt-to-equity ratio of 4.19. The stock has a market cap of $81.00 million, a PE ratio of -0.83 and a beta of 1.73. The stock’s 50 day simple moving average is $1.62 and its two-hundred day simple moving average is $1.66. Glatfelter Co. has a 52-week low of $1.22 and a 52-week high of $2.71.

Glatfelter (NYSE:GLT) last released its earnings results on Thursday, August 8th. The basic materials company reported ($0.25) earnings per share (EPS) for the quarter. Glatfelter had a negative return on equity of 16.21% and a negative net margin of 5.44%. The firm had revenue of $329.44 million during the quarter.

Analysts Set New Price Targets

Separately, StockNews.com raised Glatfelter from a “sell” rating to a “hold” rating in a research report on Friday, August 9th.

Institutional Trading of Glatfelter

A number of large investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new stake in Glatfelter in the second quarter worth $300,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Glatfelter in the second quarter worth $113,000. Bluefin Capital Management LLC increased its position in Glatfelter by 10.4% in the second quarter. Bluefin Capital Management LLC now owns 134,149 shares of the basic materials company’s stock worth $186,000 after buying an additional 12,596 shares during the last quarter. Clearline Capital LP increased its position in Glatfelter by 22.8% in 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. Finally, Squarepoint Ops LLC increased its position in Glatfelter by 59.3% in the second quarter. Squarepoint Ops LLC now owns 186,216 shares of the basic materials company’s stock worth $259,000 after buying an additional 69,314 shares during the last quarter. 76.92% of the stock is owned by hedge funds and other institutional investors.

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.