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

Analysts at StockNews.com initiated coverage on shares of Glatfelter (NYSE:GLT) in a research report issued on Friday. The firm set a “sell” rating on the basic materials company’s stock.

Glatfelter Stock Performance

The stock has a market cap of $73.68 million, a PE ratio of -1.10 and a beta of 1.72. 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 has a 50 day moving average of $22.08 and a 200 day moving average of $21.37. Glatfelter has a 1-year low of $15.80 and a 1-year high of $35.23.

Insider Transactions at Glatfelter

In other Glatfelter news, major shareholder Carlson Capital, L.P. sold 24,668 shares of Glatfelter 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 completion of the sale, the insider now directly owns 333,461 shares of the company’s stock, valued at $7,542,887.82. The trade was a 6.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.26% of the company’s stock.

Institutional Investors Weigh In On Glatfelter

A number of institutional investors and hedge funds have recently bought and sold shares of GLT. State Board of Administration of Florida Retirement System raised its position in Glatfelter by 138.0% during 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. Vanguard Group Inc. raised 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 purchasing an additional 92,314 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Glatfelter in the 1st quarter worth $30,000. Cowen AND Company LLC raised its position in shares of Glatfelter by 230.0% in the 2nd quarter. Cowen AND Company LLC now owns 33,000 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 23,000 shares in the last quarter. Finally, Ground Swell Capital LLC bought a new position in shares of Glatfelter in the 2nd quarter worth $38,000. 76.92% of the stock is owned by 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.