New York State Teachers Retirement System held its position in Glatfelter (NYSE:GLT) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,537 shares of the basic materials company’s stock at the end of the first quarter. New York State Teachers Retirement System owned about 0.07% of Glatfelter worth $686,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in GLT. State of Alaska Department of Revenue raised 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 worth $104,000 after buying an additional 100 shares during the last quarter. Envestnet Asset Management Inc. raised its position in 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 last quarter. Mason Street Advisors LLC raised its position in 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 last quarter. Stevens Capital Management LP bought a new position in shares of Glatfelter during the first quarter worth $242,000. Finally, UBS Asset Management Americas Inc. bought a new position in shares of Glatfelter during the first quarter worth $256,000. 92.39% of the stock is owned by institutional investors and hedge funds.
Glatfelter (GLT) traded down 0.53% on Friday, reaching $16.87. 278,837 shares of the company traded hands. The stock has a 50 day moving average of $18.89 and a 200-day moving average of $20.31. The stock has a market capitalization of $735.25 million, a price-to-earnings ratio of 79.95 and a beta of 1.31. Glatfelter has a 1-year low of $16.64 and a 1-year high of $25.59.
Glatfelter (NYSE:GLT) last announced its earnings results on Tuesday, August 1st. The basic materials company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.08 by $0.14. The company had revenue of $387.30 million for the quarter, compared to analysts’ expectations of $394.84 million. Glatfelter had a net margin of 0.59% and a return on equity of 8.32%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 earnings per share. On average, equities analysts anticipate that Glatfelter will post $1.10 EPS for the current year.
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GLT has been the subject of a number of research reports. TheStreet upgraded shares of Glatfelter from a “c” rating to a “b-” rating in a research report on Tuesday, May 2nd. ValuEngine upgraded shares of Glatfelter from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. BMO Capital Markets upgraded shares of Glatfelter from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $23.00 to $24.00 in a research report on Friday, May 5th. Finally, Zacks Investment Research downgraded shares of Glatfelter from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Glatfelter presently has a consensus rating of “Hold” and a consensus target price of $22.69.
In other Glatfelter news, Director Nicholas Debenedictis acquired 5,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $17.62 per share, for a total transaction of $88,100.00. Following the acquisition, the director now directly owns 57,935 shares of the company’s stock, valued at $1,020,814.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Dante C. Parrini acquired 5,800 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were acquired at an average price of $17.28 per share, for a total transaction of $100,224.00. Following the completion of the acquisition, the chairman now directly owns 128,043 shares in the company, valued at $2,212,583.04. The disclosure for this purchase can be found here. 2.30% of the stock is owned by insiders.
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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