Glatfelter (NYSE:GLT) issued its earnings results on Tuesday. The basic materials company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11, Bloomberg Earnings reports. Glatfelter had a return on equity of 8.08% and a net margin of 0.11%. The company had revenue of $413.00 million for the quarter, compared to analyst estimates of $402.74 million. During the same period in the prior year, the firm earned $0.54 earnings per share. Glatfelter’s revenue for the quarter was up 2.0% on a year-over-year basis.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 11th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Tuesday, October 10th. Glatfelter’s payout ratio is 1,733.33%.
In related news, Director Nicholas Debenedictis acquired 5,000 shares of the stock in a transaction on Tuesday, August 8th. The stock was acquired 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 owns 57,935 shares of the company’s stock, valued at $1,020,814.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.30% of the company’s stock.
A number of equities analysts have recently weighed in on GLT shares. Zacks Investment Research raised Glatfelter from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub lowered Glatfelter from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, ValuEngine lowered Glatfelter from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Glatfelter presently has an average rating of “Hold” and a consensus target price of $21.25.
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Glatfelter Company Profile
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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