Point72 Asia Singapore Pte. Ltd. Makes New $113,000 Investment in Glatfelter Co. (NYSE:GLT)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Glatfelter Co. (NYSE:GLT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 81,002 shares of the basic materials company’s stock, valued at approximately $113,000. Point72 Asia Singapore Pte. Ltd. owned 0.18% of Glatfelter at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GLT. Squarepoint Ops LLC grew its holdings in shares of Glatfelter by 59.3% during the 2nd quarter. Squarepoint Ops LLC now owns 186,216 shares of the basic materials company’s stock worth $259,000 after purchasing an additional 69,314 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Glatfelter in the 2nd quarter valued at $300,000. Marshall Wace LLP increased its position in Glatfelter by 34.8% in the second 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 period. XTX Topco Ltd raised its stake in shares of Glatfelter by 30.0% during the second quarter. XTX Topco Ltd now owns 121,192 shares of the basic materials company’s stock worth $168,000 after buying an additional 27,943 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Glatfelter by 75.3% during the 2nd quarter. Renaissance Technologies LLC now owns 69,000 shares of the basic materials company’s stock valued at $96,000 after acquiring an additional 29,628 shares during the last quarter. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Glatfelter Price Performance

Shares of GLT opened at $1.77 on Friday. The company has a debt-to-equity ratio of 4.19, a quick ratio of 1.06 and a current ratio of 2.21. Glatfelter Co. has a 52-week low of $1.22 and a 52-week high of $2.71. The stock has a 50 day simple moving average of $1.64 and a 200 day simple moving average of $1.65. The firm has a market capitalization of $80.10 million, a PE ratio of -0.87 and a beta of 1.73.

Glatfelter (NYSE:GLT) last announced its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($0.25) EPS for the quarter. Glatfelter had a negative return on equity of 16.21% and a negative net margin of 5.44%. The business had revenue of $329.44 million during the quarter.

Insider Buying and Selling at Glatfelter

In other Glatfelter news, major shareholder Carlson Capital, L.P. sold 320,691 shares of the 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 completion of the sale, the insider now owns 4,335,000 shares in the company, valued at $7,542,900. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.59% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Glatfelter from a “sell” rating to a “hold” rating in a research note on Friday, August 9th.

Glatfelter 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.