Glatfelter (GLT) Shares Bought by State Street Corp
State Street Corp increased its position in Glatfelter (NYSE:GLT) by 11.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,081,676 shares of the basic materials company’s stock after buying an additional 109,459 shares during the period. State Street Corp’s holdings in Glatfelter were worth $23,518,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Glatfelter by 47,120.4% in the first quarter. BlackRock Inc. now owns 5,571,062 shares of the basic materials company’s stock worth $121,116,000 after buying an additional 5,559,264 shares in the last quarter. Norges Bank bought a new position in shares of Glatfelter during the fourth quarter worth approximately $13,613,000. Denver Investment Advisors LLC bought a new position in shares of Glatfelter during the first quarter worth approximately $6,038,000. Vanguard Group Inc. increased its position in shares of Glatfelter by 6.4% in the first quarter. Vanguard Group Inc. now owns 3,994,968 shares of the basic materials company’s stock worth $86,850,000 after buying an additional 240,676 shares in the last quarter. Finally, LSV Asset Management increased its position in shares of Glatfelter by 16.1% in the first quarter. LSV Asset Management now owns 1,280,236 shares of the basic materials company’s stock worth $27,832,000 after buying an additional 178,000 shares in the last quarter. Institutional investors and hedge funds own 90.78% of the company’s stock.
Glatfelter (NYSE:GLT) traded down 0.143% during trading on Wednesday, hitting $17.495. 43,576 shares of the stock were exchanged. Glatfelter has a 12 month low of $16.93 and a 12 month high of $25.59. The stock’s 50 day moving average price is $19.50 and its 200 day moving average price is $20.79. The stock has a market cap of $762.48 million, a P/E ratio of 82.915 and a beta of 1.31.
Glatfelter (NYSE:GLT) last announced its earnings results on Tuesday, August 1st. The basic materials company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.08 by $0.14. Glatfelter had a return on equity of 8.32% and a net margin of 0.59%. The business had revenue of $387.30 million for the quarter, compared to analysts’ expectations of $394.84 million. During the same period in the previous year, the company earned $0.06 earnings per share. Glatfelter’s quarterly revenue was down 4.7% on a year-over-year basis. Analysts forecast that Glatfelter will post $1.10 EPS for the current fiscal year.
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GLT has been the topic of a number of research 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 stock from $23.00 to $24.00 in a research note on Friday, May 5th. Zacks Investment Research upgraded shares of Glatfelter from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th. 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Glatfelter presently has an average rating of “Hold” and a consensus target price of $22.69.
In other Glatfelter news, Chairman Dante C. Parrini bought 5,800 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were purchased at an average cost of $17.28 per share, with a total value of $100,224.00. Following the purchase, the chairman now directly owns 128,043 shares in the company, valued at $2,212,583.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicholas Debenedictis bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were acquired at an average cost of $17.62 per share, for a total transaction of $88,100.00. Following the completion of the purchase, the director now owns 57,935 shares in the company, valued at $1,020,814.70. The disclosure for this purchase can be found here. 2.30% of the stock is owned by corporate insiders.
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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