Short Interest in Glatfelter Co. (NYSE:GLT) Declines By 7.7%

Glatfelter Co. (NYSE:GLT) saw a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 1,080,000 shares, a drop of 7.7% from the July 31st total of 1,170,000 shares. Based on an average trading volume of 350,500 shares, the days-to-cover ratio is currently 3.1 days. Currently, 2.5% of the shares of the stock are sold short.

Insider Buying and Selling at Glatfelter

In other Glatfelter news, major shareholder Carlson Capital L. P sold 207,325 shares of Glatfelter stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $1.65, for a total transaction of $342,086.25. Following the completion of the transaction, the insider now directly owns 6,968,675 shares of the company’s stock, valued at $11,498,313.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.59% of the company’s stock.

Institutional Trading of Glatfelter

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD acquired a new position in shares of Glatfelter in the 1st quarter valued at approximately $30,000. State Board of Administration of Florida Retirement System grew its position 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 purchasing an additional 15,855 shares during the period. Ground Swell Capital LLC acquired a new position in shares of Glatfelter in the 2nd quarter valued at approximately $38,000. Cowen AND Company LLC lifted its stake in 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 in the last quarter. Finally, Alpine Global Management LLC bought a new stake in Glatfelter in the 1st quarter valued at approximately $80,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Glatfelter Trading Down 0.6 %

GLT stock traded down $0.01 during midday trading on Tuesday, reaching $1.60. The stock had a trading volume of 74,271 shares, compared to its average volume of 786,356. The business has a fifty day simple moving average of $1.59 and a two-hundred day simple moving average of $1.71. The company has a quick ratio of 1.06, a current ratio of 2.21 and a debt-to-equity ratio of 4.19. The firm has a market cap of $72.40 million, a price-to-earnings ratio of -0.79 and a beta of 1.74. Glatfelter has a twelve month low of $1.22 and a twelve month high of $2.71.

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

Analyst Upgrades and Downgrades

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

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.