ValuEngine upgraded shares of Glatfelter (NYSE:GLT) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Several other analysts have also recently issued reports on GLT. TheStreet cut Glatfelter from a b- rating to a c rating in a research report on Monday, June 12th. Zacks Investment Research cut Glatfelter from a hold rating to a sell rating in a research report on Monday, April 3rd. Finally, BMO Capital Markets raised Glatfelter from a market perform rating to an outperform rating and increased their target price for the company from $23.00 to $24.00 in a research report on Monday, May 15th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $22.69.

Glatfelter (GLT) traded up 0.10% during midday trading on Tuesday, reaching $20.39. The company’s stock had a trading volume of 111,712 shares. The firm has a 50 day moving average price of $19.65 and a 200-day moving average price of $20.98. The company has a market cap of $888.15 million, a P/E ratio of 53.24 and a beta of 1.31. Glatfelter has a 12-month low of $17.50 and a 12-month high of $25.59.

Glatfelter (NYSE:GLT) last released its quarterly earnings data on Tuesday, May 2nd. The basic materials company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. The company had revenue of $390.70 million for the quarter, compared to the consensus estimate of $400.65 million. Glatfelter had a return on equity of 9.15% and a net margin of 1.06%. Glatfelter’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the business posted $0.37 EPS. On average, equities research analysts predict that Glatfelter will post $1.35 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 3rd will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $0.52 annualized dividend and a yield of 2.55%. Glatfelter’s dividend payout ratio (DPR) is presently 140.54%.

A number of hedge funds have recently made changes to their positions in GLT. State of Alaska Department of Revenue boosted its stake in shares of 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 period. 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 valued at $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 valued at $126,000 after buying an additional 2,246 shares during the period. 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 valued at $221,000 after buying an additional 669 shares during the period. Finally, Stevens Capital Management LP bought a new stake in shares of Glatfelter during the first quarter valued at about $242,000. 89.54% of the stock is currently owned by institutional investors and hedge funds.

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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