ValuEngine Lowers P H Glatfelter (NYSE:GLT) to Hold

ValuEngine lowered shares of P H Glatfelter (NYSE:GLT) from a buy rating to a hold rating in a report published on Friday, ValuEngine reports.

Separately, Zacks Investment Research raised shares of P H Glatfelter from a hold rating to a buy rating and set a $16.00 price target for the company in a research note on Friday, April 19th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $19.50.

P H Glatfelter stock traded down $0.39 during midday trading on Friday, hitting $14.78. 2,410 shares of the stock were exchanged, compared to its average volume of 230,684. P H Glatfelter has a 1 year low of $9.28 and a 1 year high of $20.40. The stock has a market cap of $670.07 million, a price-to-earnings ratio of 72.24, a P/E/G ratio of 4.16 and a beta of 1.75. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.11 and a current ratio of 1.91. The company has a 50 day simple moving average of $16.33.

P H Glatfelter (NYSE:GLT) last released its earnings results on Tuesday, July 30th. The basic materials company reported $0.19 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. P H Glatfelter had a negative net margin of 18.24% and a positive return on equity of 3.05%. The company had revenue of $235.70 million during the quarter, compared to the consensus estimate of $251.05 million. During the same quarter in the previous year, the firm earned ($0.10) EPS. The company’s revenue was up 9.3% on a year-over-year basis. On average, equities research analysts anticipate that P H Glatfelter will post 0.73 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 3rd were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, July 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.52%. P H Glatfelter’s payout ratio is currently 247.62%.

In other P H Glatfelter news, Director Nicholas Debenedictis bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average cost of $15.25 per share, for a total transaction of $30,500.00. Following the acquisition, the director now directly owns 84,365 shares of the company’s stock, valued at $1,286,566.25. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders purchased a total of 12,000 shares of company stock worth $179,725 over the last quarter. Insiders own 2.06% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in P H Glatfelter by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 804,021 shares of the basic materials company’s stock valued at $7,847,000 after purchasing an additional 89,481 shares in the last quarter. Chartwell Investment Partners LLC grew its position in P H Glatfelter by 6.4% during the first quarter. Chartwell Investment Partners LLC now owns 770,654 shares of the basic materials company’s stock valued at $10,882,000 after purchasing an additional 46,286 shares in the last quarter. Systematic Financial Management LP grew its position in P H Glatfelter by 5.8% during the first quarter. Systematic Financial Management LP now owns 556,589 shares of the basic materials company’s stock valued at $7,859,000 after purchasing an additional 30,689 shares in the last quarter. Norges Bank purchased a new position in P H Glatfelter during the fourth quarter valued at approximately $5,021,000. Finally, Geode Capital Management LLC grew its position in P H Glatfelter by 9.2% during the fourth quarter. Geode Capital Management LLC now owns 470,758 shares of the basic materials company’s stock valued at $4,594,000 after purchasing an additional 39,600 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

About P H Glatfelter

P. H. Glatfelter Company, together with its subsidiaries, manufactures and sells 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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