Glatfelter (NYSE:GLT) Director Nicholas Debenedictis acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were bought at an average cost of $17.62 per share, with a total value of $88,100.00. Following the completion of the purchase, the director now owns 57,935 shares of the company’s stock, valued at $1,020,814.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Glatfelter (NYSE GLT) opened at 16.87 on Friday. Glatfelter has a 52-week low of $16.64 and a 52-week high of $25.59. The company has a 50 day moving average price of $18.89 and a 200-day moving average price of $20.31. The firm has a market cap of $735.25 million, a P/E ratio of 79.95 and a beta of 1.31.
Glatfelter (NYSE:GLT) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $387.30 million during the quarter, compared to the consensus estimate of $394.84 million. During the same quarter in the previous year, the business posted $0.06 earnings per share. The firm’s revenue was down 4.7% on a year-over-year basis. On average, analysts expect that Glatfelter will post $1.10 earnings per share for the current fiscal year.
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GLT has been the topic of several recent analyst reports. TheStreet upgraded Glatfelter from a “c” rating to a “b-” rating in a report on Tuesday, May 2nd. ValuEngine upgraded Glatfelter from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. BMO Capital Markets upgraded Glatfelter from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $23.00 to $24.00 in a report on Friday, May 5th. Finally, Zacks Investment Research lowered Glatfelter from a “hold” rating to a “strong sell” rating in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $22.69.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its position in Glatfelter by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,810 shares of the basic materials company’s stock valued at $104,000 after buying an additional 100 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Glatfelter by 73.5% in the second 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. boosted its stake in shares of Glatfelter by 63.2% in the first 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 boosted its stake in shares of Glatfelter by 10.3% in the second 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. Finally, Mason Street Advisors LLC boosted its stake in shares of Glatfelter by 7.0% in the first quarter. Mason Street Advisors LLC now owns 10,185 shares of the basic materials company’s stock worth $221,000 after buying an additional 669 shares during the period. Institutional investors and hedge funds own 92.39% of the company’s stock.
Glatfelter Company Profile
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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