Glatfelter (NYSE:GLT) Upgraded by StockNews.com to Hold

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

Glatfelter Price Performance

NYSE:GLT traded up $0.02 during trading hours on Friday, reaching $1.70. The company had a trading volume of 141,135 shares, compared to its average volume of 854,378. The firm has a market capitalization of $76.93 million, a PE ratio of -0.84 and a beta of 1.74. The stock has a 50-day moving average of $1.56 and a two-hundred day moving average of $1.72. Glatfelter has a one year low of $1.22 and a one year high of $2.71. The company has a quick ratio of 1.13, a current ratio of 2.31 and a debt-to-equity ratio of 3.89.

Glatfelter (NYSE:GLT) last announced its earnings results on Thursday, May 9th. The basic materials company reported ($0.33) earnings per share for the quarter. The business had revenue of $327.26 million during the quarter. Glatfelter had a negative net margin of 6.88% and a negative return on equity of 18.86%.

Insider Buying and Selling at Glatfelter

In related news, major shareholder Carlson Capital L. P sold 207,325 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $1.65, for a total value of $342,086.25. Following the completion of the sale, the insider now owns 6,968,675 shares in the company, valued at $11,498,313.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.59% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its position in shares of Glatfelter by 75.3% during the second 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 in the last quarter. Ground Swell Capital LLC acquired a new stake in shares of Glatfelter in the 2nd quarter valued at about $38,000. Cowen AND Company LLC lifted its holdings in shares of Glatfelter by 230.0% in the second 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 in the last quarter. Bluefin Capital Management LLC acquired a new position in shares of Glatfelter during the first quarter worth about $243,000. Finally, Paloma Partners Management Co grew its holdings in shares of Glatfelter by 80.0% during the first quarter. Paloma Partners Management Co now owns 90,000 shares of the basic materials company’s stock worth $180,000 after buying an additional 40,000 shares in the last quarter. 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.