Glatfelter (NYSE:GLT) Stock Rating Lowered by StockNews.com

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

Glatfelter Trading Down 3.9 %

Shares of Glatfelter stock opened at $1.74 on Friday. The company has a debt-to-equity ratio of 4.26, a current ratio of 2.23 and a quick ratio of 1.06. Glatfelter has a 52 week low of $1.22 and a 52 week high of $2.71. The stock has a 50 day moving average price of $1.70 and a two-hundred day moving average price of $1.64.

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

Insider Buying and Selling at Glatfelter

In other Glatfelter news, major shareholder Carlson Capital, L.P. sold 50,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $1.82, for a total value of $91,000.00. Following the sale, the insider now directly owns 4,655,691 shares in the company, valued at $8,473,357.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.59% of the company’s stock.

Hedge Funds Weigh In On Glatfelter

Hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP grew its position in Glatfelter by 34.8% during the second quarter. Marshall Wace LLP now owns 134,465 shares of the basic materials company’s stock worth $187,000 after buying an additional 34,679 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Glatfelter in the 1st quarter valued at about $30,000. Vanguard Group Inc. raised its position in Glatfelter by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,369,984 shares of the basic materials company’s stock valued at $4,740,000 after purchasing an additional 92,314 shares during the last quarter. XTX Topco Ltd raised its position in Glatfelter by 30.0% during the 2nd quarter. XTX Topco Ltd now owns 121,192 shares of the basic materials company’s stock valued at $168,000 after purchasing an additional 27,943 shares during the last quarter. Finally, Bluefin Capital Management LLC raised its position 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 valued at $186,000 after purchasing an additional 12,596 shares during the last quarter. 76.92% of the stock is currently owned by hedge funds and other institutional investors.

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.