Glatfelter Co. (NYSE:GLT) Short Interest Down 9.3% in July

Glatfelter Co. (NYSE:GLT) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 1,170,000 shares, a drop of 9.3% from the July 15th total of 1,290,000 shares. Based on an average daily volume of 365,100 shares, the days-to-cover ratio is presently 3.2 days. Currently, 2.7% of the shares of the company are sold short.

Wall Street Analyst Weigh In

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

Glatfelter Price Performance

Shares of NYSE GLT traded up $0.01 during mid-day trading on Friday, reaching $1.81. The company’s stock had a trading volume of 132,200 shares, compared to its average volume of 830,565. The company has a debt-to-equity ratio of 3.89, a current ratio of 2.31 and a quick ratio of 1.13. Glatfelter has a 52 week low of $1.22 and a 52 week high of $2.71. The stock has a fifty day moving average of $1.57 and a two-hundred day moving average of $1.72. The firm has a market capitalization of $81.91 million, a PE ratio of -0.89 and a beta of 1.74.

Insider Activity at Glatfelter

In other Glatfelter news, major shareholder Carlson Capital L. P sold 207,325 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD bought a new position in shares of Glatfelter during the first quarter worth $30,000. Teton Advisors Inc. grew its holdings in Glatfelter by 38.9% during the 4th quarter. Teton Advisors Inc. now owns 25,000 shares of the basic materials company’s stock valued at $48,000 after buying an additional 7,000 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in 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 worth $55,000 after acquiring an additional 15,855 shares during the last quarter. Ground Swell Capital LLC bought a new stake in Glatfelter in the second quarter worth $38,000. Finally, Cowen AND Company LLC lifted its position in Glatfelter by 230.0% during the second quarter. Cowen AND Company LLC now owns 33,000 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 23,000 shares during the last quarter. 76.92% of the stock is owned by hedge funds and other institutional investors.

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.