Public Employees Retirement System of Ohio maintained its position in Glatfelter (NYSE:GLT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,190 shares of the basic materials company’s stock at the end of the first quarter. Public Employees Retirement System of Ohio’s holdings in Glatfelter were worth $135,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its position in Glatfelter by 2.1% in 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 buying an additional 100 shares in the last quarter. Envestnet Asset Management Inc. raised its position 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 valued at $126,000 after buying an additional 2,246 shares in the last quarter. Mason Street Advisors LLC raised its position 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 valued at $221,000 after buying an additional 669 shares in the last quarter. Stevens Capital Management LP bought a new position in Glatfelter during the first quarter valued at approximately $242,000. Finally, UBS Asset Management Americas Inc. bought a new position in Glatfelter during the first quarter valued at approximately $256,000. Institutional investors own 90.78% of the company’s stock.
Glatfelter (NYSE GLT) traded down 1.22% on Friday, reaching $17.00. The company had a trading volume of 280,467 shares. Glatfelter has a 1-year low of $16.66 and a 1-year high of $25.59. The company’s 50-day moving average price is $19.22 and its 200 day moving average price is $20.58. The firm has a market capitalization of $740.91 million, a P/E ratio of 80.57 and a beta of 1.31.
Glatfelter (NYSE:GLT) last released its quarterly earnings data on Tuesday, August 1st. The basic materials company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.14. The business had revenue of $387.30 million during the quarter, compared to analyst estimates of $394.84 million. Glatfelter had a net margin of 0.59% and a return on equity of 8.32%. The firm’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 EPS. On average, equities analysts forecast that Glatfelter will post $1.10 EPS for the current year.
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Several research analysts recently commented on the company. Zacks Investment Research upgraded Glatfelter from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. ValuEngine lowered Glatfelter from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. TheStreet lowered Glatfelter from a “b-” rating to a “c” rating in a research report on Monday, June 12th. Finally, BMO Capital Markets upgraded Glatfelter from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $23.00 to $24.00 in a research report on Monday, May 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.69.
In other Glatfelter news, Chairman Dante C. Parrini acquired 5,800 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $17.28 per share, for a total transaction of $100,224.00. Following the acquisition, the chairman now owns 128,043 shares in the company, valued at $2,212,583.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas Debenedictis acquired 5,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was acquired at an average price of $17.62 per share, with a total value of $88,100.00. Following the acquisition, the director now owns 57,935 shares in the company, valued at approximately $1,020,814.70. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.
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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