Shell Asset Management Co. decreased its position in shares of Glatfelter (NYSE:GLT) by 4.4% during the third quarter, Holdings Channel reports. The firm owned 98,237 shares of the company’s stock after selling 4,499 shares during the period. Shell Asset Management Co. owned 0.23% of Glatfelter worth $2,130,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Anchor Capital Advisors LLC raised its stake in shares of Glatfelter by 0.7% in the second quarter. Anchor Capital Advisors LLC now owns 29,703 shares of the company’s stock worth $581,000 after buying an additional 216 shares during the period. Victory Capital Management Inc. raised its stake in shares of Glatfelter by 17.6% in the second quarter. Victory Capital Management Inc. now owns 15,362 shares of the company’s stock worth $300,000 after buying an additional 2,297 shares during the period. Swiss National Bank raised its stake in shares of Glatfelter by 2.4% in the second quarter. Swiss National Bank now owns 73,600 shares of the company’s stock worth $1,440,000 after buying an additional 1,700 shares during the period. Nationwide Fund Advisors raised its stake in shares of Glatfelter by 33.6% in the second quarter. Nationwide Fund Advisors now owns 50,126 shares of the company’s stock worth $980,000 after buying an additional 12,610 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Glatfelter by 69.1% in the second quarter. JPMorgan Chase & Co. now owns 87,807 shares of the company’s stock worth $1,717,000 after buying an additional 35,869 shares during the period. 88.40% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Glatfelter (NYSE:GLT)

Glatfelter (NYSE:GLT) opened at 23.70 on Friday. The stock’s 50 day moving average is $23.88 and its 200-day moving average is $21.90. Glatfelter has a 12-month low of $14.09 and a 12-month high of $25.49. The company has a market cap of $1.03 billion, a P/E ratio of 14.46 and a beta of 1.32.

Glatfelter (NYSE:GLT) last issued its earnings results on Tuesday, November 1st. The company reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by $0.01. Glatfelter had a net margin of 4.42% and a return on equity of 9.69%. The firm earned $405.30 million during the quarter, compared to the consensus estimate of $426.09 million. During the same period in the previous year, the company posted ($0.12) EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. Analysts predict that Glatfelter will post $1.39 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 3rd will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Thursday, December 29th. Glatfelter’s dividend payout ratio (DPR) is presently 30.68%.

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GLT has been the subject of a number of research reports. Zacks Investment Research lowered shares of Glatfelter from a “hold” rating to a “strong sell” rating in a research note on Friday, November 4th. BMO Capital Markets raised shares of Glatfelter from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $22.00 to $23.00 in a research note on Wednesday, November 2nd. They noted that the move was a valuation call. TheStreet raised shares of Glatfelter from a “hold” rating to a “buy” rating in a research note on Tuesday, November 29th. Finally, DA Davidson lowered shares of Glatfelter from a “buy” rating to a “neutral” rating and lifted their target price for the company from $22.00 to $25.00 in a research note on Wednesday, December 7th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $24.33.

About Glatfelter

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