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

StockNews.com assumed coverage on shares of Glatfelter (NYSE:GLT) in a research note released on Saturday. The firm issued a sell rating on the basic materials company’s stock.

Glatfelter Stock Performance

The stock has a market capitalization 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. Glatfelter has a fifty-two week low of $15.80 and a fifty-two week high of $35.23. The business has a 50-day moving average of $22.10 and a two-hundred day moving average of $21.38.

Insider Activity at Glatfelter

In other Glatfelter news, major shareholder Carlson Capital, L.P. sold 3,846 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $23.66, for a total value 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. This trade represents a 1.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.26% of the stock is owned by company insiders.

Institutional Trading of Glatfelter

Large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD acquired a new position in Glatfelter in the first quarter valued at $30,000. Ground Swell Capital LLC acquired a new stake in shares of Glatfelter in the second quarter valued at about $38,000. Cowen AND Company LLC lifted its position in 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 acquiring an additional 23,000 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Glatfelter by 75.3% in the 2nd quarter. Renaissance Technologies LLC now owns 69,000 shares of the basic materials company’s stock worth $96,000 after acquiring an additional 29,628 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Glatfelter during the second quarter worth $113,000. 76.92% of the stock is currently 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.