Foundation Resource Management Inc. Cuts Stake in Glatfelter Co. (NYSE:GLT)

Foundation Resource Management Inc. lessened its holdings in shares of Glatfelter Co. (NYSE:GLT) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 423,856 shares of the basic materials company’s stock after selling 7,300 shares during the quarter. Foundation Resource Management Inc. owned about 0.94% of Glatfelter worth $763,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GLT. Gabelli Funds LLC grew its holdings in shares of Glatfelter by 17.6% in the first quarter. Gabelli Funds LLC now owns 40,000 shares of the basic materials company’s stock valued at $80,000 after purchasing an additional 6,000 shares in the last quarter. Bluefin Capital Management LLC increased its holdings in shares of Glatfelter by 10.4% in the 2nd quarter. Bluefin Capital Management LLC now owns 134,149 shares of the basic materials company’s stock worth $186,000 after buying an additional 12,596 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Glatfelter during the 1st quarter valued at about $30,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of 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 acquiring an additional 15,855 shares during the last quarter. Finally, Cowen AND Company LLC lifted its holdings 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 valued at $46,000 after acquiring an additional 23,000 shares during the last quarter. 76.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Glatfelter Stock Performance

Shares of NYSE:GLT opened at $1.75 on Friday. Glatfelter Co. has a 12 month low of $1.22 and a 12 month high of $2.71. The firm’s 50-day moving average is $1.68 and its 200 day moving average is $1.65. The company has a market capitalization of $79.19 million, a price-to-earnings ratio of -0.86 and a beta of 1.74. 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 posted its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.25) earnings per share for the quarter. Glatfelter had a negative net margin of 5.44% and a negative return on equity of 16.21%. The company had revenue of $329.44 million for the quarter.

Insider Buying and Selling

In other news, major shareholder Carlson Capital, L.P. sold 320,691 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $1.74, for a total transaction of $558,002.34. Following the transaction, the insider now owns 4,335,000 shares in the company, valued at $7,542,900. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.59% of the stock is owned by insiders.

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.