Carlson Capital Doubles Glatfelter Stake, Plans Talks

Carlson Capital L P filed a 13D form with the US Securities & Exchange Commission that it doubled its stake in Glatfelter Corp (US:GLT) above 10% to 5.4 million shares, switched its filing status to 13D, and plans to discuss issues with the company.

In a February 25 filing, the company reported 2.2 million, or shares and 5.07% of the company, an increase in shares of 139.60% and a decrease in total ownership of 5.07% (calculated as current – previous percent ownership).

Carlson’s filed four 13D/G filings since Sept. 20, 2021.

Glatfelter shares rose 16% on Tuesday.

What are other large shareholders doing?

BlackRock Inc. holds 7,390,862 shares representing 16.50% ownership of the company. In its prior filing, the firm reported owning 7,213,257 shares, representing an increase of 2.40%. The firm decreased its portfolio allocation in GLT by 32.20% over the last quarter.

Vanguard Group Inc holds 3,859,257 shares representing 8.62% ownership of the company. In its prior filing, the firm reported owning 4,807,941 shares, representing a decrease of 24.58%. The firm decreased its portfolio allocation in GLT by 46.99% over the last quarter.

Segall Bryant & Hamill, LLC holds 3,432,883 shares representing 7.66% ownership of the company. In its prior filing, the firm reported owning 3,247,684 shares, representing an increase of 5.39%. The firm decreased its portfolio allocation in GLT by 30.85% over the last quarter.

Dimensional Fund Advisors LP holds 3,207,567 shares representing 7.16% ownership of the company. In its prior filing, the firm reported owning 3,360,994 shares, representing a decrease of 4.78%. The firm decreased its portfolio allocation in GLT by 87.04% over the last quarter.

IJR – iShares Core S&P Small-Cap ETF holds 3,120,442 shares representing 6.97% ownership of the company. In its prior filing, the firm reported owning 3,168,820 shares, representing a decrease of 1.55%. The firm decreased its portfolio allocation in GLT by 34.16% over the last quarter.

What is the overall institutional sentiment?

There are 398 funds or institutions reporting positions in Glatfelter Corp. This is a decrease of 15 owner(s) or 3.63%.

The average portfolio weight of all funds dedicated to Glatfelter Corp is 0.0536%, a decrease of 35.9471%. Total shares owned by institutions decreased in the last three months by 0.22% to 49,625,712 shares.

Based on this information, institutional sentiment is bearish.

This article originally appeared on Fintel