Chartwell Investment Partners LLC boosted its stake in Glatfelter Co. (NYSE:GLT) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 918,005 shares of the basic materials company’s stock after purchasing an additional 7,555 shares during the period. Chartwell Investment Partners LLC owned about 2.07% of Glatfelter worth $15,744,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. US Bancorp DE increased its holdings in Glatfelter by 3.6% in the first quarter. US Bancorp DE now owns 33,419 shares of the basic materials company’s stock valued at $574,000 after purchasing an additional 1,150 shares during the period. Everence Capital Management Inc. acquired a new stake in Glatfelter during the 1st quarter worth about $200,000. Pacer Advisors Inc. acquired a new stake in Glatfelter during the 1st quarter worth about $827,000. Susquehanna International Group LLP grew its holdings in Glatfelter by 393.9% during the 4th quarter. Susquehanna International Group LLP now owns 13,629 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 18,266 shares during the period. Finally, Eaton Vance Management bought a new position in shares of Glatfelter during the 4th quarter worth about $186,000. Institutional investors and hedge funds own 91.68% of the company’s stock.
Glatfelter stock traded down $0.17 during mid-day trading on Wednesday, reaching $14.56. The company’s stock had a trading volume of 723 shares, compared to its average volume of 211,925. The firm’s fifty day moving average price is $16.40 and its two-hundred day moving average price is $16.50. The company has a market capitalization of $647.22 million, a P/E ratio of -19.91 and a beta of 1.49. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 2.13. Glatfelter Co. has a 12-month low of $12.60 and a 12-month high of $19.48.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 2nd. Shareholders of record on Thursday, July 1st will be paid a $0.14 dividend. The ex-dividend date is Wednesday, June 30th. This is an increase from Glatfelter’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a yield of 3.85%. Glatfelter’s payout ratio is currently 72.00%.
Separately, BMO Capital Markets dropped their price target on shares of Glatfelter from $19.00 to $17.00 and set a “market perform” rating on the stock in a research report on Monday.
Glatfelter Corporation, together with its subsidiaries, manufactures and sells engineered materials worldwide. It operated through two segments, Composite Fibers and Airlaid Materials. The company's Composite Fibers segment offers food and beverage filtration materials for single-serve coffee and tea products; wallcover base materials for wallpaper manufacturers; metallized products that are used in labels, packaging liners, gift wrap, and other consumer product applications; composite laminate, consisting of decorative laminates for use in furniture, household and commercial flooring, and other applications; and specialty engineered products, which are used in electrical energy storage, homecare, hygiene, and other engineered fiber-based applications.
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