P.H. Glatfelter Co. (GLT) Shares Sold by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. cut its stake in shares of P.H. Glatfelter Co. (NYSE:GLT) by 0.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,065,052 shares of the company’s stock after selling 2,729 shares during the period. PNC Financial Services Group Inc.’s holdings in P.H. Glatfelter were worth $23,090,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in P.H. Glatfelter by 8.2% in the third quarter. Bank of New York Mellon Corp now owns 934,772 shares of the company’s stock valued at $20,266,000 after buying an additional 70,478 shares during the last quarter. Aperio Group LLC increased its position in P.H. Glatfelter by 17.9% in the third quarter. Aperio Group LLC now owns 26,043 shares of the company’s stock valued at $565,000 after buying an additional 3,962 shares during the last quarter. Wells Fargo & Company MN increased its position in P.H. Glatfelter by 3.9% in the third quarter. Wells Fargo & Company MN now owns 59,253 shares of the company’s stock valued at $1,285,000 after buying an additional 2,205 shares during the last quarter. Great West Life Assurance Co. Can increased its position in P.H. Glatfelter by 4.5% in the third quarter. Great West Life Assurance Co. Can now owns 61,664 shares of the company’s stock valued at $1,335,000 after buying an additional 2,670 shares during the last quarter. Finally, Alpha Windward LLC bought a new position in P.H. Glatfelter during the third quarter valued at $442,000. 88.42% of the stock is owned by hedge funds and other institutional investors.
P.H. Glatfelter Co. (NYSE:GLT) traded down 0.04% during midday trading on Tuesday, hitting $23.51. The stock had a trading volume of 23,453 shares. The firm has a 50 day moving average price of $21.36 and a 200 day moving average price of $21.10. The stock has a market cap of $1.02 billion, a PE ratio of 14.34 and a beta of 1.34. P.H. Glatfelter Co. has a one year low of $14.09 and a one year high of $23.90.
P.H. Glatfelter (NYSE:GLT) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by $0.01. P.H. Glatfelter had a return on equity of 9.69% and a net margin of 4.42%. The company had revenue of $405.30 million for the quarter, compared to analyst estimates of $426.09 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. The company’s revenue was down 3.5% on a year-over-year basis. Equities analysts expect that P.H. Glatfelter Co. will post $1.41 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Monday, October 3rd were issued a dividend of $0.125 per share. The ex-dividend date was Thursday, September 29th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.13%. P.H. Glatfelter’s payout ratio is 30.68%.
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Several equities analysts have weighed in on GLT shares. BMO Capital Markets raised P.H. Glatfelter from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $22.00 to $23.00 in a research report on Wednesday, November 2nd. They noted that the move was a valuation call. Zacks Investment Research downgraded P.H. Glatfelter from a “hold” rating to a “strong sell” rating in a research report on Friday, November 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. P.H. Glatfelter has a consensus rating of “Hold” and a consensus target price of $24.33.
About P.H. Glatfelter
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