Glatfelter (GLT) Shares Sold by Employees Retirement System of Texas
Employees Retirement System of Texas lessened its holdings in Glatfelter (NYSE:GLT) by 22.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,000 shares of the basic materials company’s stock after selling 16,000 shares during the period. Employees Retirement System of Texas owned approximately 0.13% of Glatfelter worth $1,075,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Voya Investment Management LLC boosted its stake in shares of Glatfelter by 11.5% in the 2nd quarter. Voya Investment Management LLC now owns 20,495 shares of the basic materials company’s stock worth $400,000 after buying an additional 2,116 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of Glatfelter by 135.8% in the 2nd quarter. Citadel Advisors LLC now owns 102,022 shares of the basic materials company’s stock worth $1,993,000 after buying an additional 58,755 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Glatfelter by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,069,825 shares of the basic materials company’s stock worth $79,524,000 after buying an additional 74,857 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Glatfelter by 3.6% in the 2nd quarter. Northern Trust Corp now owns 1,481,567 shares of the basic materials company’s stock worth $28,950,000 after buying an additional 51,067 shares during the last quarter. Finally, Penn Capital Management Co. Inc. purchased a new position in shares of Glatfelter in the 2nd quarter worth approximately $3,060,000. Hedge funds and other institutional investors own 89.36% of the company’s stock.
In related news, Director Nicholas Debenedictis bought 5,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was acquired at an average price of $17.62 per share, with a total value of $88,100.00. Following the transaction, the director now owns 57,935 shares in the company, valued at approximately $1,020,814.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Dante C. Parrini bought 5,800 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was bought at an average cost of $17.28 per share, with a total value of $100,224.00. Following the transaction, the chairman now owns 128,043 shares in the company, valued at approximately $2,212,583.04. The disclosure for this purchase can be found here. Insiders own 2.30% of the company’s stock.
A number of equities analysts have recently weighed in on the company. ValuEngine upgraded Glatfelter from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded Glatfelter from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, BidaskClub downgraded Glatfelter from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.25.
Glatfelter (NYSE:GLT) opened at 18.89 on Monday. The company has a 50-day moving average price of $18.30 and a 200 day moving average price of $19.02. Glatfelter has a 1-year low of $16.53 and a 1-year high of $25.59. The stock has a market cap of $823.28 million, a P/E ratio of 89.53 and a beta of 1.34.
Glatfelter (NYSE:GLT) last announced 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 net margin of 0.59% and a return on equity of 8.32%. The firm had revenue of $387.30 million for the quarter, compared to the consensus estimate of $394.84 million. During the same period last year, the business earned $0.06 EPS. Glatfelter’s revenue was down 4.7% on a year-over-year basis. Equities analysts expect that Glatfelter will post $1.14 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 11th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Tuesday, October 10th. Glatfelter’s dividend payout ratio (DPR) is presently 260.01%.
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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