OppenheimerFunds Inc. Buys 10,323 Shares of P H Glatfelter Co (GLT)
OppenheimerFunds Inc. grew its stake in shares of P H Glatfelter Co (NYSE:GLT) by 23.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,191 shares of the basic materials company’s stock after buying an additional 10,323 shares during the period. OppenheimerFunds Inc. owned 0.13% of P H Glatfelter worth $1,081,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Engineers Gate Manager LP purchased a new position in P H Glatfelter during the second quarter worth $229,000. Mondrian Investment Partners LTD increased its position in P H Glatfelter by 19.3% during the second quarter. Mondrian Investment Partners LTD now owns 230,228 shares of the basic materials company’s stock worth $4,510,000 after buying an additional 37,309 shares in the last quarter. Strs Ohio increased its position in P H Glatfelter by 9.7% during the second quarter. Strs Ohio now owns 44,000 shares of the basic materials company’s stock worth $861,000 after buying an additional 3,900 shares in the last quarter. UBS Group AG increased its position in P H Glatfelter by 182.5% during the first quarter. UBS Group AG now owns 8,192 shares of the basic materials company’s stock worth $168,000 after buying an additional 5,292 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in P H Glatfelter by 12.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 543,660 shares of the basic materials company’s stock worth $10,651,000 after buying an additional 61,095 shares in the last quarter. 91.69% of the stock is owned by institutional investors.
Several research firms have weighed in on GLT. ValuEngine downgraded P H Glatfelter from a “buy” rating to a “hold” rating in a research report on Thursday. DA Davidson raised P H Glatfelter from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 20th. Zacks Investment Research raised P H Glatfelter from a “strong sell” rating to a “hold” rating in a research report on Monday, June 25th. Finally, BMO Capital Markets raised their price target on P H Glatfelter from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. P H Glatfelter currently has a consensus rating of “Hold” and a consensus target price of $26.00.
P H Glatfelter (NYSE:GLT) last announced its quarterly earnings data on Tuesday, July 31st. The basic materials company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.04). The business had revenue of $405.80 million during the quarter, compared to analysts’ expectations of $418.73 million. P H Glatfelter had a net margin of 0.02% and a return on equity of 5.83%. P H Glatfelter’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) EPS. research analysts anticipate that P H Glatfelter Co will post 0.82 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 3rd will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Tuesday, October 2nd. P H Glatfelter’s dividend payout ratio is currently 44.83%.
P H Glatfelter Profile
P. H. Glatfelter Company, together with its subsidiaries, manufactures and sells specialty papers and engineered materials worldwide. The company's Composite Fibers business unit offers food and beverage filtration paper for single-serve coffee and tea products; wall covering base materials for wallpaper manufacturers; metallized products that are used in labels, packaging liners, gift wrap, and other consumer product applications; composite laminate papers for use in production of decorative laminates, furniture, and flooring applications; and special paper products, which are used in electrical energy storage, transport and transmission, wipes, and other engineered fiber-based applications.
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