Swiss National Bank continued to hold its position in Glatfelter (NYSE:GLT) during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 71,000 shares of the basic materials company’s stock at the end of the 2nd quarter. Swiss National Bank owned approximately 0.16% of Glatfelter worth $1,387,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in Glatfelter by 1.8% during the 1st quarter. Wells Fargo & Company MN now owns 74,009 shares of the basic materials company’s stock worth $1,609,000 after purchasing an additional 1,275 shares during the period. Comerica Bank boosted its position in Glatfelter by 32.8% during the 1st quarter. Comerica Bank now owns 63,560 shares of the basic materials company’s stock worth $1,403,000 after purchasing an additional 15,688 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in Glatfelter during the 1st quarter worth $256,000. Karp Capital Management Corp purchased a new stake in Glatfelter during the 1st quarter worth $457,000. Finally, Ameriprise Financial Inc. boosted its position in Glatfelter by 21.1% during the 1st quarter. Ameriprise Financial Inc. now owns 281,171 shares of the basic materials company’s stock worth $6,115,000 after purchasing an additional 48,993 shares during the period. Institutional investors and hedge funds own 89.36% of the company’s stock.
In other news, Chairman Dante C. Parrini bought 5,800 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were acquired at an average cost of $17.28 per share, for a total transaction of $100,224.00. Following the purchase, the chairman now owns 128,043 shares of the company’s stock, valued at approximately $2,212,583.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nicholas Debenedictis bought 5,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average price of $17.62 per share, for a total transaction of $88,100.00. Following the completion of the purchase, the director now directly owns 57,935 shares in the company, valued at approximately $1,020,814.70. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company’s stock.
Shares of Glatfelter (GLT) opened at 19.01 on Thursday. The company’s 50-day moving average is $18.13 and its 200-day moving average is $19.07. The stock has a market capitalization of $828.51 million, a PE ratio of 90.09 and a beta of 1.34. Glatfelter has a 12 month low of $16.53 and a 12 month high of $25.59.
Glatfelter (NYSE:GLT) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.14). Glatfelter had a net margin of 0.59% and a return on equity of 8.32%. The business had revenue of $387.30 million for the quarter, compared to the consensus estimate of $394.84 million. During the same quarter in the prior year, the business posted $0.06 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. Equities research analysts expect that Glatfelter will post $1.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 11th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, October 10th. This represents a $0.52 dividend on an annualized basis and a yield of 2.74%. Glatfelter’s payout ratio is presently 260.01%.
GLT has been the subject of a number of research reports. BidaskClub cut shares of Glatfelter from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Zacks Investment Research raised shares of Glatfelter from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, ValuEngine raised shares of Glatfelter from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $21.25.
P. H. Glatfelter Company is a manufacturer of specialty papers and fiber-based engineered materials. The Company operates through three business units: Composite Fibers, Advanced Airlaid Materials and Specialty Papers. Its Composite Fibers business unit is engaged in the sale of single-serve tea and coffee filtration papers, non-woven wallcovering materials, metallized papers, composite laminates papers, and various technically special papers, including substrates for electrical applications.
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