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

Equities researchers at StockNews.com began coverage on shares of Glatfelter (NYSE:GLT) in a research report issued to clients and investors on Thursday. The brokerage set a “sell” rating on the basic materials company’s stock.

Glatfelter Price Performance

Glatfelter has a twelve month low of $15.80 and a twelve month high of $35.23. The firm has a market capitalization of $73.68 million, a P/E ratio of -1.10 and a beta of 1.72. 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 company’s 50 day moving average is $22.08 and its 200 day moving average is $21.36.

Insider Buying and Selling

In other news, major shareholder Carlson Capital, L.P. sold 24,668 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $22.62, for a total value of $557,990.16. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.26% of the company’s stock.

Hedge Funds Weigh In On Glatfelter

Several large investors have recently bought and sold shares of GLT. Price T Rowe Associates Inc. MD acquired a new position in Glatfelter in the 1st quarter valued at approximately $30,000. State Board of Administration of Florida Retirement System grew its stake in 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 during the last quarter. Ground Swell Capital LLC bought a new stake in Glatfelter during the 2nd quarter worth approximately $38,000. Cowen AND Company LLC raised its position in Glatfelter by 230.0% in the 2nd quarter. Cowen AND Company LLC now owns 33,000 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 23,000 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in Glatfelter by 17.6% in the first quarter. Gabelli Funds LLC now owns 40,000 shares of the basic materials company’s stock worth $80,000 after purchasing an additional 6,000 shares in 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.