Glatfelter Co. (NYSE:GLT) Sees Significant Increase in Short Interest

Glatfelter Co. (NYSE:GLTGet Rating) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totalling 1,160,000 shares, an increase of 34.4% from the April 30th total of 862,800 shares. Approximately 2.7% of the company’s shares are short sold. Based on an average trading volume of 338,300 shares, the short-interest ratio is presently 3.4 days.

GLT stock traded up $0.22 during trading hours on Monday, hitting $8.67. The company’s stock had a trading volume of 10,577 shares, compared to its average volume of 293,130. The company has a quick ratio of 0.97, a current ratio of 1.76 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $387.72 million, a PE ratio of -3.54 and a beta of 1.43. Glatfelter has a 12 month low of $7.45 and a 12 month high of $18.74. The stock has a 50 day moving average price of $10.66 and a two-hundred day moving average price of $14.26.

Glatfelter (NYSE:GLTGet Rating) last posted its earnings results on Tuesday, May 3rd. The basic materials company reported ($0.14) EPS for the quarter. The business had revenue of $381.68 million during the quarter. Glatfelter had a positive return on equity of 2.48% and a negative net margin of 8.85%.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 1st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 6.46%. The ex-dividend date is Thursday, June 30th. Glatfelter’s dividend payout ratio is -22.86%.

GLT has been the topic of a number of research analyst reports. StockNews.com initiated coverage on shares of Glatfelter in a research report on Thursday, March 31st. They set a “sell” rating on the stock. TheStreet downgraded shares of Glatfelter from a “c” rating to a “d+” rating in a research report on Tuesday, May 3rd. Finally, BMO Capital Markets lowered their price objective on shares of Glatfelter from $18.00 to $12.00 in a research report on Tuesday, May 10th.

In other news, Director Bruce Brown bought 3,750 shares of the company’s stock in a transaction dated Thursday, March 3rd. The shares were acquired at an average cost of $13.60 per share, with a total value of $51,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.38% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Raymond James & Associates grew its position in Glatfelter by 5.8% in the third quarter. Raymond James & Associates now owns 13,114 shares of the basic materials company’s stock worth $185,000 after acquiring an additional 714 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Glatfelter by 2.8% in the fourth quarter. Deutsche Bank AG now owns 32,096 shares of the basic materials company’s stock worth $552,000 after buying an additional 861 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Glatfelter by 42.6% in the second quarter. Royal Bank of Canada now owns 3,226 shares of the basic materials company’s stock worth $46,000 after buying an additional 963 shares during the last quarter. Wilen Investment Management CORP. lifted its stake in shares of Glatfelter by 100.0% in the fourth quarter. Wilen Investment Management CORP. now owns 2,000 shares of the basic materials company’s stock worth $33,000 after buying an additional 1,000 shares during the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Glatfelter by 2.3% in the fourth quarter. California State Teachers Retirement System now owns 61,270 shares of the basic materials company’s stock worth $1,054,000 after buying an additional 1,383 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

About Glatfelter (Get Rating)

Glatfelter Corporation, together with its subsidiaries, manufactures and sells 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.

See Also

Receive News & Ratings for Glatfelter Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glatfelter and related companies with MarketBeat.com's FREE daily email newsletter.