Ameriprise Financial Inc. increased its position in shares of Glatfelter (NYSE:GLT) by 31.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 369,249 shares of the basic materials company’s stock after acquiring an additional 88,078 shares during the period. Ameriprise Financial Inc. owned about 0.85% of Glatfelter worth $7,217,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan boosted its position in Glatfelter by 1.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 14,030 shares of the basic materials company’s stock valued at $305,000 after buying an additional 160 shares in the last quarter. Anchor Capital Advisors LLC boosted its position in Glatfelter by 0.9% in the second quarter. Anchor Capital Advisors LLC now owns 29,337 shares of the basic materials company’s stock valued at $573,000 after buying an additional 250 shares in the last quarter. Texas Permanent School Fund boosted its position in Glatfelter by 0.8% in the second quarter. Texas Permanent School Fund now owns 31,802 shares of the basic materials company’s stock valued at $621,000 after buying an additional 266 shares in the last quarter. Sei Investments Co. boosted its position in Glatfelter by 0.9% in the second quarter. Sei Investments Co. now owns 29,949 shares of the basic materials company’s stock valued at $586,000 after buying an additional 272 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Glatfelter by 1.3% in the first quarter. Arizona State Retirement System now owns 22,691 shares of the basic materials company’s stock valued at $493,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 90.06% of the company’s stock.
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In other Glatfelter news, Director Nicholas Debenedictis acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was bought at an average price of $17.62 per share, with a total value of $88,100.00. Following the purchase, the director now owns 57,935 shares of the company’s stock, valued at $1,020,814.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Dante C. Parrini acquired 5,800 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was acquired at an average cost of $17.28 per share, with a total value of $100,224.00. Following the purchase, the chairman now directly owns 128,043 shares in the company, valued at approximately $2,212,583.04. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.
Glatfelter (NYSE:GLT) opened at 18.94 on Friday. The stock’s 50 day moving average is $18.66 and its 200-day moving average is $18.91. The firm has a market cap of $825.46 million, a price-to-earnings ratio of 89.76 and a beta of 1.34. Glatfelter has a one year low of $16.53 and a one year high of $25.59.
Glatfelter (NYSE:GLT) last issued its quarterly earnings results 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). Glatfelter had a return on equity of 8.32% and a net margin of 0.59%. The company had revenue of $387.30 million during the quarter, compared to the consensus estimate of $394.84 million. During the same period in the previous year, the company earned $0.06 EPS. Glatfelter’s quarterly revenue was down 4.7% on a year-over-year basis. On average, equities research analysts expect that Glatfelter will post $1.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 11th will be paid a $0.13 dividend. The ex-dividend date is Tuesday, October 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.75%. Glatfelter’s dividend payout ratio (DPR) is 260.01%.
GLT has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Glatfelter from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub lowered shares of Glatfelter from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, ValuEngine lowered shares of Glatfelter from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $21.25.
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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