Penn Capital Management Co. Inc. Acquires New Position in Glatfelter (GLT)

Penn Capital Management Co. Inc. acquired a new stake in shares of Glatfelter (NYSE:GLT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 156,601 shares of the basic materials company’s stock, valued at approximately $3,060,000. Penn Capital Management Co. Inc. owned approximately 0.36% of Glatfelter as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GLT. Teachers Advisors LLC grew its stake in Glatfelter by 6.9% during the 4th quarter. Teachers Advisors LLC now owns 74,676 shares of the basic materials company’s stock valued at $1,784,000 after purchasing an additional 4,822 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Glatfelter during the 1st quarter valued at approximately $263,000. Wells Fargo & Company MN grew its stake 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 valued at $1,609,000 after purchasing an additional 1,275 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Glatfelter by 5.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 59,534 shares of the basic materials company’s stock valued at $1,293,000 after purchasing an additional 3,200 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Glatfelter by 9.6% during the 1st quarter. First Trust Advisors LP now owns 108,605 shares of the basic materials company’s stock valued at $2,361,000 after purchasing an additional 9,525 shares in the last quarter. Hedge funds and other institutional investors own 89.36% of the company’s stock.

Shares of Glatfelter (NYSE:GLT) traded down 0.44% during midday trading on Friday, reaching $18.12. The company’s stock had a trading volume of 38,138 shares. Glatfelter has a 12 month low of $16.53 and a 12 month high of $25.59. The stock’s 50-day moving average is $17.33 and its 200 day moving average is $19.34. The stock has a market capitalization of $789.72 million, a P/E ratio of 85.88 and a beta of 1.33.

Glatfelter (NYSE:GLT) last posted 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 business had revenue of $387.30 million for the quarter, compared to analyst estimates of $394.84 million. During the same period in the prior year, the firm posted $0.06 EPS. Glatfelter’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, analysts expect that Glatfelter will post $1.10 earnings per share for the current fiscal year.

In other news, Chairman Dante C. Parrini purchased 5,800 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was purchased at an average price of $17.28 per share, with a total value of $100,224.00. Following the acquisition, the chairman now directly owns 128,043 shares in the company, valued at approximately $2,212,583.04. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Nicholas Debenedictis purchased 5,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was purchased at an average cost 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 $1,020,814.70. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company’s stock.

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GLT has been the subject of a number of recent analyst reports. ValuEngine lowered Glatfelter from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. TheStreet lowered Glatfelter from a “b-” rating to a “c” rating in a research note on Monday, June 12th. Zacks Investment Research upgraded Glatfelter from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, BidaskClub lowered Glatfelter from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $22.69.

About Glatfelter

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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