Glatfelter (NYSE:GLT) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Glatfelter (NYSE:GLT) from a hold rating to a sell rating in a research report report published on Friday.

Glatfelter Price Performance

GLT traded down $0.07 during trading on Friday, reaching $1.74. The stock had a trading volume of 1,692,106 shares, compared to its average volume of 722,122. The company has a debt-to-equity ratio of 4.19, a quick ratio of 1.06 and a current ratio of 2.21. The stock has a market cap of $79.00 million, a PE ratio of -1.17 and a beta of 1.74. The business has a 50-day moving average of $1.70 and a 200-day moving average of $1.64. Glatfelter has a one year low of $1.22 and a one year high of $2.71.

Glatfelter (NYSE:GLT) last issued its earnings results on Thursday, August 8th. The basic materials company reported ($0.25) earnings per share (EPS) for the quarter. The firm had revenue of $329.44 million during the quarter. Glatfelter had a negative return on equity of 17.28% and a negative net margin of 5.08%.

Insiders Place Their Bets

In other Glatfelter news, major shareholder Carlson Capital, L.P. sold 320,691 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $1.74, for a total value of $558,002.34. Following the sale, the insider now owns 4,335,000 shares in the company, valued at $7,542,900. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System increased its position in shares of Glatfelter by 138.0% in 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 acquiring an additional 15,855 shares during the period. Littlejohn & Co. LLC increased its stake in shares of Glatfelter by 111.5% in the first quarter. Littlejohn & Co. LLC now owns 3,067,767 shares of the basic materials company’s stock worth $6,136,000 after acquiring an additional 1,617,110 shares during the period. Vanguard Group Inc. lifted its position in 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 lifted its position in Glatfelter by 17.6% during the first quarter. Gabelli Funds LLC now owns 40,000 shares of the basic materials company’s stock valued at $80,000 after purchasing an additional 6,000 shares during the period. Finally, Alpine Global Management LLC purchased a new stake in Glatfelter in the first quarter valued at $80,000. 76.92% of the stock is owned by institutional investors and hedge funds.

Glatfelter Company Profile

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.