Assenagon Asset Management S.A. Buys 66,855 Shares of Glatfelter Co. (NYSE:GLT)

Posted by Defense World Staff on Oct 16th, 2023

Assenagon Asset Management S.A. increased its stake in shares of Glatfelter Co. (NYSE:GLT – Free Report) by 17.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 444,257 shares of the basic materials company’s stock after buying an additional 66,855 shares during the quarter. Assenagon Asset Management S.A. owned 0.99% of Glatfelter worth $1,342,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Captrust Financial Advisors grew its holdings in Glatfelter by 115.9% during the first quarter. Captrust Financial Advisors now owns 3,237 shares of the basic materials company’s stock worth $41,000 after buying an additional 1,738 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Glatfelter during the first quarter worth $43,000. Point72 Middle East FZE bought a new stake in Glatfelter during the fourth quarter worth $25,000. Walleye Capital LLC bought a new position in Glatfelter in the 2nd quarter valued at $69,000. Finally, Little House Capital LLC bought a new position in Glatfelter in the 1st quarter valued at $33,000. Institutional investors own 79.27% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Carlson Capital L. P acquired 185,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were acquired at an average price of $2.00 per share, with a total value of $370,000.00. Following the acquisition, the insider now owns 6,100,000 shares of the company’s stock, valued at approximately $12,200,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Glatfelter news, major shareholder Carlson Capital L. P purchased 185,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were purchased at an average price of $2.00 per share, with a total value of $370,000.00. Following the acquisition, the insider now directly owns 6,100,000 shares in the company, valued at approximately $12,200,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Carlson Capital L. P purchased 236,000 shares of the stock in a transaction on Tuesday, October 10th. The stock was acquired at an average cost of $1.80 per share, for a total transaction of $424,800.00. Following the acquisition, the insider now owns 7,026,000 shares in the company, valued at $12,646,800. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 871,000 shares of company stock valued at $1,666,300. Corporate insiders own 2.59% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Glatfelter in a research note on Thursday, October 5th. They issued a “sell” rating for the company.

Get Our Latest Stock Report on Glatfelter

Glatfelter Stock Up 6.7 %

Shares of NYSE:GLT opened at $1.76 on Monday. The company has a market capitalization of $79.28 million, a PE ratio of -0.59 and a beta of 1.72. The company has a debt-to-equity ratio of 3.06, a current ratio of 2.34 and a quick ratio of 1.14. The business has a fifty day moving average price of $2.08 and a two-hundred day moving average price of $2.94. Glatfelter Co. has a 1 year low of $1.64 and a 1 year high of $4.87.

Glatfelter (NYSE:GLT – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported ($0.45) earnings per share (EPS) for the quarter. The business had revenue of $357.01 million during the quarter. Glatfelter had a negative net margin of 9.07% and a negative return on equity of 12.23%.

Glatfelter Company Profile

(Free Report)

Glatfelter Corporation, together with its subsidiaries, manufactures and sells 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.