Parametric Portfolio Associates LLC raised its position in Glatfelter (NYSE:GLT) by 3.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 137,127 shares of the basic materials company’s stock after buying an additional 4,034 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.31% of Glatfelter worth $2,981,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue boosted its position in 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 worth $104,000 after buying an additional 100 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of Glatfelter during the first quarter worth about $256,000. Janney Montgomery Scott LLC bought a new stake in shares of Glatfelter during the first quarter worth about $263,000. Louisiana State Employees Retirement System raised its stake in shares of Glatfelter by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the basic materials company’s stock worth $385,000 after buying an additional 200 shares during the period. Finally, First Republic Investment Management Inc. raised its stake in shares of Glatfelter by 10.1% in the fourth quarter. First Republic Investment Management Inc. now owns 16,980 shares of the basic materials company’s stock worth $405,000 after buying an additional 1,557 shares during the period. 89.54% of the stock is owned by hedge funds and other institutional investors.
Shares of Glatfelter (NYSE GLT) traded up 0.10% during midday trading on Friday, hitting $20.39. 111,712 shares of the company’s stock traded hands. Glatfelter has a 1-year low of $17.50 and a 1-year high of $25.59. The firm has a market capitalization of $888.15 million, a price-to-earnings ratio of 53.24 and a beta of 1.31. The company has a 50 day moving average price of $19.65 and a 200 day moving average price of $20.98.
Glatfelter (NYSE:GLT) last announced its quarterly earnings results on Tuesday, May 2nd. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. Glatfelter had a net margin of 1.06% and a return on equity of 9.15%. The firm had revenue of $390.70 million during the quarter, compared to the consensus estimate of $400.65 million. During the same period last year, the firm posted $0.37 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Equities analysts anticipate that Glatfelter will post $1.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 3rd will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, June 29th. Glatfelter’s dividend payout ratio is currently 140.54%.
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GLT has been the topic of a number of recent analyst reports. BMO Capital Markets upgraded shares of Glatfelter from a “market perform” rating to an “outperform” rating and upped their target price for the company from $23.00 to $24.00 in a research note on Friday, May 5th. Zacks Investment Research lowered shares of Glatfelter from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. TheStreet upgraded shares of Glatfelter from a “c” rating to a “b-” rating in a research note on Tuesday, May 2nd. Finally, ValuEngine upgraded shares of Glatfelter from a “hold” rating to a “buy” rating and set a $14.75 price objective on the stock in a research note on Thursday, May 11th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $22.69.
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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