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

Glatfelter (NYSE:GLT) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Glatfelter Stock Performance

Glatfelter stock traded down $0.08 during mid-day trading on Friday, reaching $1.73. The company’s stock had a trading volume of 1,692,084 shares, compared to its average volume of 722,122. The firm has a market cap of $78.32 million, a price-to-earnings ratio of -1.17 and a beta of 1.74. Glatfelter has a twelve month low of $1.22 and a twelve month high of $2.71. The business has a 50 day moving average price of $1.70 and a 200-day moving average price of $1.64. The company has a current ratio of 2.21, a quick ratio of 1.06 and a debt-to-equity ratio of 4.19.

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

Insider Activity at Glatfelter

In other 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 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.59% of the company’s stock.

Hedge Funds Weigh In On Glatfelter

Several hedge funds and other institutional investors have recently made changes to their positions in GLT. Price T Rowe Associates Inc. MD acquired a new position in Glatfelter during the 1st quarter worth $30,000. State Board of Administration of Florida Retirement System grew its position in 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 buying an additional 15,855 shares in the last quarter. Ground Swell Capital LLC acquired a new position in Glatfelter during the 2nd quarter valued at about $38,000. Cowen AND Company LLC lifted its stake 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 during the period. Finally, Alpine Global Management LLC bought a new position in shares of Glatfelter in the first quarter valued at approximately $80,000. 76.92% of the stock is currently 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.