Sei Investments Co. raised its position in shares of P H Glatfelter Co (NYSE:GLT) by 141.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,049 shares of the basic materials company’s stock after purchasing an additional 58,672 shares during the period. Sei Investments Co. owned approximately 0.23% of P H Glatfelter worth $2,054,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swiss National Bank raised its position in P H Glatfelter by 8.7% during the fourth quarter. Swiss National Bank now owns 77,200 shares of the basic materials company’s stock valued at $1,655,000 after purchasing an additional 6,200 shares in the last quarter. BlackRock Inc. raised its position in P H Glatfelter by 2.8% during the fourth quarter. BlackRock Inc. now owns 5,486,251 shares of the basic materials company’s stock valued at $117,624,000 after purchasing an additional 151,816 shares in the last quarter. California Public Employees Retirement System raised its position in P H Glatfelter by 7.3% during the fourth quarter. California Public Employees Retirement System now owns 155,793 shares of the basic materials company’s stock valued at $3,340,000 after purchasing an additional 10,637 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of P H Glatfelter by 70.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 167,511 shares of the basic materials company’s stock worth $3,591,000 after buying an additional 69,203 shares during the period. Finally, M&T Bank Corp purchased a new position in shares of P H Glatfelter in the fourth quarter worth about $273,000. Institutional investors and hedge funds own 91.14% of the company’s stock.
P H Glatfelter opened at $19.42 on Friday, according to MarketBeat.com. The stock has a market capitalization of $856.05 million, a PE ratio of 20.20, a P/E/G ratio of 3.73 and a beta of 1.22. The company has a current ratio of 1.80, a quick ratio of 1.02 and a debt-to-equity ratio of 0.68. P H Glatfelter Co has a 12 month low of $15.76 and a 12 month high of $23.85.
P H Glatfelter (NYSE:GLT) last posted its earnings results on Tuesday, May 1st. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.07). The business had revenue of $412.08 million during the quarter, compared to the consensus estimate of $411.36 million. P H Glatfelter had a return on equity of 6.07% and a net margin of 0.13%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 earnings per share. analysts predict that P H Glatfelter Co will post 1.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Investors of record on Tuesday, July 3rd will be paid a $0.13 dividend. The ex-dividend date is Monday, July 2nd. This represents a $0.52 annualized dividend and a dividend yield of 2.68%. P H Glatfelter’s payout ratio is presently 44.83%.
GLT has been the topic of several analyst reports. ValuEngine upgraded P H Glatfelter from a “hold” rating to a “buy” rating in a report on Tuesday, April 3rd. Zacks Investment Research downgraded P H Glatfelter from a “hold” rating to a “strong sell” rating in a report on Thursday, April 19th. DA Davidson upgraded P H Glatfelter from a “neutral” rating to a “buy” rating in a report on Wednesday. Finally, TheStreet downgraded P H Glatfelter from a “b-” rating to a “c” rating in a report on Thursday, May 3rd. Three investment analysts have rated the stock with a sell rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $26.00.
P H Glatfelter Profile
P. H. Glatfelter Company, together with its subsidiaries, manufactures and sells specialty papers and engineered materials worldwide. The company's Composite Fibers business unit offers food and beverage filtration paper for single-serve coffee and tea products; wall covering base materials for wallpaper manufacturers; metallized products that are used in labels, packaging liners, gift wrap, and other consumer product applications; composite laminate papers for use in production of decorative laminates, furniture, and flooring applications; and special paper products, which are used in electrical energy storage, transport and transmission, wipes, and other engineered fiber-based applications.
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