Pinnacle Associates Ltd. Has $762,000 Stake in Glatfelter (GLT)

Pinnacle Associates Ltd. lifted its position in shares of Glatfelter (NYSE:GLT) by 97.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,200 shares of the basic materials company’s stock after purchasing an additional 19,300 shares during the period. Pinnacle Associates Ltd. owned 0.09% of Glatfelter worth $762,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its holdings in shares of Glatfelter by 7.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 397,703 shares of the basic materials company’s stock worth $7,736,000 after purchasing an additional 28,287 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Glatfelter by 26.1% during the third quarter. Wells Fargo & Company MN now owns 69,387 shares of the basic materials company’s stock worth $1,350,000 after purchasing an additional 14,358 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Glatfelter by 0.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 3,070,766 shares of the basic materials company’s stock worth $59,726,000 after purchasing an additional 17,450 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Glatfelter during the third quarter worth about $178,000. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in shares of Glatfelter by 58.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 16,340 shares of the basic materials company’s stock worth $318,000 after purchasing an additional 6,060 shares during the period. Institutional investors own 91.03% of the company’s stock.

In other Glatfelter news, EVP John P. Jacunski sold 6,674 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $20.85, for a total value of $139,152.90. Following the completion of the sale, the executive vice president now directly owns 57,464 shares in the company, valued at $1,198,124.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

Several analysts have commented on GLT shares. Zacks Investment Research lowered shares of Glatfelter from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. ValuEngine lowered shares of Glatfelter from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, BidaskClub lowered shares of Glatfelter from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $21.25.

Shares of Glatfelter (GLT) opened at $20.89 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.70 and a debt-to-equity ratio of 0.65. Glatfelter has a 1-year low of $16.53 and a 1-year high of $25.59. The company has a market cap of $901.80, a PE ratio of 16.82, a price-to-earnings-growth ratio of 3.66 and a beta of 1.36.

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

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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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