Insider Selling: Glatfelter Co. (NYSE:GLT) Major Shareholder Sells 207,325 Shares of Stock

Glatfelter Co. (NYSE:GLT) major shareholder Carlson Capital L. P sold 207,325 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $1.65, for a total value of $342,086.25. Following the completion of the sale, the insider now owns 6,968,675 shares in the company, valued at $11,498,313.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Glatfelter Stock Performance

Shares of NYSE GLT traded down $0.03 during midday trading on Monday, hitting $1.36. 1,201,948 shares of the company’s stock were exchanged, compared to its average volume of 994,562. Glatfelter Co. has a twelve month low of $1.25 and a twelve month high of $3.71. The company has a debt-to-equity ratio of 3.89, a current ratio of 2.31 and a quick ratio of 1.13. The firm has a market cap of $61.31 million, a P/E ratio of -0.70 and a beta of 1.74. The stock’s 50 day moving average price is $1.64 and its 200-day moving average price is $1.75.

Glatfelter (NYSE:GLT) last announced its quarterly earnings results on Thursday, May 9th. The basic materials company reported ($0.33) earnings per share (EPS) for the quarter. Glatfelter had a negative return on equity of 18.86% and a negative net margin of 6.88%. The business had revenue of $327.26 million for the quarter.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Glatfelter from a “hold” rating to a “sell” rating in a research report on Friday, May 10th.

Hedge Funds Weigh In On Glatfelter

Several large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD acquired a new stake in shares of Glatfelter in the 1st quarter worth approximately $30,000. Teton Advisors Inc. raised its holdings in Glatfelter by 38.9% during the fourth quarter. Teton Advisors Inc. now owns 25,000 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 7,000 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in 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 purchasing an additional 15,855 shares in the last quarter. Barclays PLC boosted its stake in Glatfelter by 41.6% during the 3rd quarter. Barclays PLC now owns 33,354 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 9,796 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new position in shares of Glatfelter during the 1st quarter valued at $80,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

Glatfelter Company 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.