Keybank National Association OH Acquires Shares of 39,455 Glatfelter (NYSE:GLT)

Keybank National Association OH bought a new stake in shares of Glatfelter (NYSE:GLT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 39,455 shares of the basic materials company’s stock, valued at approximately $771,000. Keybank National Association OH owned about 0.09% of Glatfelter at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its stake in Glatfelter by 2.1% during the first quarter. State of Alaska Department of Revenue now owns 4,810 shares of the basic materials company’s stock valued at $104,000 after purchasing an additional 100 shares during the last quarter. Bank of Montreal Can lifted its stake in Glatfelter by 73.5% during the second quarter. Bank of Montreal Can now owns 5,607 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 2,376 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Glatfelter by 63.2% during the first quarter. Envestnet Asset Management Inc. now owns 5,799 shares of the basic materials company’s stock valued at $126,000 after purchasing an additional 2,246 shares during the last quarter. Mason Street Advisors LLC raised its holdings in shares of Glatfelter by 7.0% during the first quarter. Mason Street Advisors LLC now owns 10,185 shares of the basic materials company’s stock valued at $221,000 after acquiring an additional 669 shares during the period. Finally, Stevens Capital Management LP acquired a new stake in shares of Glatfelter during the first quarter valued at approximately $242,000. 89.36% of the stock is owned by institutional investors and hedge funds.

In related news, Director Nicholas Debenedictis purchased 5,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were purchased at an average price of $17.62 per share, with a total value of $88,100.00. Following the completion of the purchase, the director now owns 57,935 shares in the company, valued at approximately $1,020,814.70. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Dante C. Parrini purchased 5,800 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was bought 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 disclosure for this purchase can be found here. 2.30% of the stock is owned by company insiders.

A number of equities research analysts have recently issued reports on GLT shares. ValuEngine upgraded shares of Glatfelter from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. BidaskClub lowered shares of Glatfelter from a “hold” rating to a “sell” rating in a report on Friday, August 25th. TheStreet lowered shares of Glatfelter from a “b-” rating to a “c” rating in a report on Monday, June 12th. Finally, Zacks Investment Research lowered shares of Glatfelter from a “hold” rating to a “strong sell” rating in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $22.69.

Glatfelter (NYSE GLT) opened at 18.07 on Friday. The firm has a 50-day moving average of $17.45 and a 200 day moving average of $19.44. The firm has a market cap of $787.54 million, a price-to-earnings ratio of 85.64 and a beta of 1.33. Glatfelter has a 1-year low of $16.53 and a 1-year high of $25.59.

Glatfelter (NYSE:GLT) last released its quarterly earnings data on Tuesday, August 1st. The basic materials company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.14). Glatfelter had a return on equity of 8.32% and a net margin of 0.59%. The firm had revenue of $387.30 million for the quarter, compared to the consensus estimate of $394.84 million. During the same period in the previous year, the business earned $0.06 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. Analysts expect that Glatfelter will post $1.10 earnings per share for the current fiscal year.

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Glatfelter 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.

Institutional Ownership by Quarter for Glatfelter (NYSE:GLT)

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