Glatfelter Co. (NYSE:GLT) Major Shareholder Sells $91,000.00 in Stock

Glatfelter Co. (NYSE:GLT) major shareholder Carlson Capital, L.P. sold 50,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $1.82, for a total transaction of $91,000.00. Following the completion of the sale, the insider now directly owns 4,655,691 shares of the company’s stock, valued at $8,473,357.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Glatfelter Stock Performance

NYSE:GLT opened at $1.75 on Wednesday. The stock has a 50-day moving average price of $1.62 and a 200 day moving average price of $1.65. The stock has a market capitalization of $79.19 million, a P/E ratio of -0.86 and a beta of 1.73. Glatfelter Co. has a 12-month low of $1.22 and a 12-month high of $2.71. 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 released its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($0.25) earnings per share (EPS) for the quarter. Glatfelter had a negative net margin of 5.44% and a negative return on equity of 16.21%. The company had revenue of $329.44 million for the quarter.

Analyst Ratings Changes

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

Institutional Trading of Glatfelter

Several hedge funds have recently bought and sold shares of GLT. Price T Rowe Associates Inc. MD purchased a new position in shares of Glatfelter during the first quarter valued at about $30,000. Ground Swell Capital LLC purchased a new position in Glatfelter during the 2nd quarter valued at approximately $38,000. Cowen AND Company LLC raised its holdings in shares of Glatfelter by 230.0% during 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 in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Glatfelter by 138.0% during 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 acquiring an additional 15,855 shares during the last quarter. Finally, Alpine Global Management LLC purchased a new position in shares of Glatfelter in the first quarter valued at $80,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.

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.