Glatfelter (GLT) Upgraded at ValuEngine

Glatfelter (NYSE:GLT) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Thursday, November 2nd.

Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Glatfelter from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub downgraded shares of Glatfelter from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $21.25.

Glatfelter (GLT) opened at $20.07 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.94 and a current ratio of 1.70. The company has a market cap of $866.93, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 3.52 and a beta of 1.39. Glatfelter has a one year low of $16.53 and a one year high of $25.59.

Glatfelter (NYSE:GLT) last issued its earnings results on Tuesday, October 31st. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.11. The firm had revenue of $413.00 million during the quarter, compared to analyst estimates of $402.74 million. Glatfelter had a net margin of 0.11% and a return on equity of 7.96%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 earnings per share. equities analysts anticipate that Glatfelter will post 1.13 EPS for the current fiscal year.

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In other Glatfelter news, EVP John P. Jacunski sold 6,674 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $20.85, for a total value of $139,152.90. Following the sale, the executive vice president now owns 57,464 shares in the company, valued at approximately $1,198,124.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in GLT. Bank of Montreal Can raised its stake in shares of Glatfelter by 73.5% during the 2nd quarter. Bank of Montreal Can now owns 5,607 shares of the basic materials company’s stock worth $110,000 after buying an additional 2,376 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Glatfelter by 63.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,799 shares of the basic materials company’s stock worth $126,000 after buying an additional 2,246 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Glatfelter by 10.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,828 shares of the basic materials company’s stock worth $133,000 after buying an additional 638 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Glatfelter by 78.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,597 shares of the basic materials company’s stock worth $167,000 after buying an additional 3,787 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Glatfelter during the 3rd quarter worth approximately $178,000. 90.00% of the stock is owned by institutional investors and hedge funds.

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.

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