Paloma Partners Management Co Acquires 40,000 Shares of Glatfelter Co. (NYSE:GLT)

Paloma Partners Management Co lifted its holdings in Glatfelter Co. (NYSE:GLT) by 80.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,000 shares of the basic materials company’s stock after buying an additional 40,000 shares during the quarter. Paloma Partners Management Co owned about 0.20% of Glatfelter worth $180,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Littlejohn & Co. LLC raised its holdings in shares of Glatfelter by 111.5% in the first quarter. Littlejohn & Co. LLC now owns 3,067,767 shares of the basic materials company’s stock valued at $6,136,000 after buying an additional 1,617,110 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Glatfelter by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,369,984 shares of the basic materials company’s stock valued at $4,740,000 after buying an additional 92,314 shares during the last quarter. CastleKnight Management LP raised its holdings in shares of Glatfelter by 25.6% in the fourth quarter. CastleKnight Management LP now owns 579,207 shares of the basic materials company’s stock valued at $1,124,000 after buying an additional 117,910 shares during the last quarter. Gabelli Funds LLC raised 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 buying an additional 6,000 shares during the last quarter. Finally, Alpine Global Management LLC bought a new position in shares of Glatfelter in the first quarter valued at about $80,000. 76.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Glatfelter news, major shareholder Carlson Capital L. P sold 207,325 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 6,968,675 shares of the company’s stock, valued at approximately $11,498,313.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.59% of the company’s stock.

Glatfelter Trading Up 0.7 %

NYSE:GLT traded up $0.01 on Tuesday, hitting $1.51. 49,086 shares of the stock were exchanged, compared to its average volume of 889,110. Glatfelter Co. has a 52 week low of $1.22 and a 52 week high of $3.52. The company has a debt-to-equity ratio of 3.89, a quick ratio of 1.13 and a current ratio of 2.31. The company’s 50-day moving average price is $1.59 and its 200 day moving average price is $1.71.

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

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.