Glatfelter (NYSE:GLT) Downgraded to Sell Rating by StockNews.com

StockNews.com lowered shares of Glatfelter (NYSE:GLT) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Glatfelter Trading Down 3.9 %

Shares of Glatfelter stock opened at $1.74 on Friday. The firm has a market capitalization of $79.17 million, a PE ratio of -1.18 and a beta of 1.72. The company has a current ratio of 2.23, a quick ratio of 1.06 and a debt-to-equity ratio of 4.26. The firm’s 50 day moving average is $1.70 and its 200 day moving average is $1.64. Glatfelter has a 1 year low of $1.22 and a 1 year high of $2.71.

Glatfelter (NYSE:GLT) last announced its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.25) EPS for the quarter. Glatfelter had a negative net margin of 5.08% and a negative return on equity of 17.71%. The firm had revenue of $329.44 million during the quarter.

Insiders Place Their Bets

In other news, major shareholder Carlson Capital, L.P. sold 320,691 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $1.74, for a total transaction of $558,002.34. Following the completion of the transaction, the insider now owns 4,335,000 shares of the company’s stock, valued at approximately $7,542,900. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.59% of the company’s stock.

Hedge Funds Weigh In On Glatfelter

A number of hedge funds and other institutional investors have recently made changes to their positions in GLT. Marshall Wace LLP raised its holdings in Glatfelter by 34.8% during the 2nd quarter. Marshall Wace LLP now owns 134,465 shares of the basic materials company’s stock worth $187,000 after purchasing an additional 34,679 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in Glatfelter during the first quarter worth $30,000. Vanguard Group Inc. lifted its holdings in Glatfelter by 4.1% in 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 buying an additional 92,314 shares during the period. XTX Topco Ltd boosted its position in Glatfelter by 30.0% during the second quarter. XTX Topco Ltd now owns 121,192 shares of the basic materials company’s stock valued at $168,000 after acquiring an additional 27,943 shares during the last quarter. Finally, Bluefin Capital Management LLC grew its holdings in Glatfelter by 10.4% during the 2nd quarter. Bluefin Capital Management LLC now owns 134,149 shares of the basic materials company’s stock worth $186,000 after acquiring an additional 12,596 shares during the period. 76.92% of the stock is 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.