Schwab Charles Investment Management Inc. boosted its holdings in Glatfelter (NYSE:GLT) by 9.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 369,416 shares of the basic materials company’s stock after buying an additional 32,211 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.85% of Glatfelter worth $7,219,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Glatfelter by 47,120.4% in the first quarter. BlackRock Inc. now owns 5,571,062 shares of the basic materials company’s stock valued at $121,116,000 after acquiring an additional 5,559,264 shares during the period. Envestnet Asset Management Inc. boosted its stake in Glatfelter by 63.2% in the first quarter. Envestnet Asset Management Inc. now owns 5,799 shares of the basic materials company’s stock worth $126,000 after purchasing an additional 2,246 shares in the last quarter. Teachers Advisors LLC boosted its stake in Glatfelter by 1.0% in the first quarter. Teachers Advisors LLC now owns 75,400 shares of the basic materials company’s stock worth $1,639,000 after purchasing an additional 724 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Glatfelter by 1.8% in the first 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 in the last quarter. Finally, Mason Street Advisors LLC boosted its stake in Glatfelter by 7.0% in the first quarter. Mason Street Advisors LLC now owns 10,185 shares of the basic materials company’s stock worth $221,000 after purchasing an additional 669 shares in the last quarter. Institutional investors and hedge funds own 89.36% of the company’s stock.
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A number of equities analysts have commented on the company. Zacks Investment Research raised Glatfelter from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th. ValuEngine lowered Glatfelter from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub lowered Glatfelter from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Glatfelter presently has an average rating of “Hold” and a consensus target price of $21.25.
In other news, Director Nicholas Debenedictis bought 5,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were bought at an average price of $17.62 per share, for a total transaction of $88,100.00. Following the purchase, the director now owns 57,935 shares in the company, valued at $1,020,814.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Dante C. Parrini bought 5,800 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were purchased at an average price of $17.28 per share, for a total transaction of $100,224.00. Following the purchase, the chairman now owns 128,043 shares in the company, valued at approximately $2,212,583.04. 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 19.24 on Tuesday. The company has a 50-day moving average price of $18.30 and a 200-day moving average price of $19.02. The company has a market cap of $838.54 million, a P/E ratio of 91.18 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 announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.14). Glatfelter had a net margin of 0.59% and a return on equity of 8.32%. The firm had revenue of $387.30 million for the quarter, compared to the consensus estimate of $394.84 million. During the same period last year, the business earned $0.06 EPS. Glatfelter’s revenue was down 4.7% on a year-over-year basis. On average, analysts predict that Glatfelter will post $1.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 11th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Tuesday, October 10th. Glatfelter’s dividend payout ratio (DPR) is presently 260.01%.
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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