Public Employees Retirement System of Ohio Maintains Position in Glatfelter (NYSE:GLT)
Public Employees Retirement System of Ohio held its stake in Glatfelter (NYSE:GLT) during the first quarter, Holdings Channel reports. The firm owned 6,190 shares of the basic materials company’s stock at the end of the first quarter. Public Employees Retirement System of Ohio’s holdings in Glatfelter were worth $135,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its stake 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 valued at $104,000 after buying an additional 100 shares during the period. Envestnet Asset Management Inc. boosted its stake in 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 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. Stevens Capital Management LP purchased a new stake in Glatfelter during the first quarter valued at $242,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in Glatfelter during the first quarter valued at $256,000. 90.78% of the stock is owned by institutional investors and hedge funds.
Glatfelter (NYSE GLT) traded down 1.22% during trading on Friday, hitting $17.00. 280,467 shares of the company were exchanged. The company has a 50-day moving average of $19.22 and a 200-day moving average of $20.58. The company has a market capitalization of $740.91 million, a price-to-earnings ratio of 80.57 and a beta of 1.31. Glatfelter has a 12 month low of $16.66 and a 12 month high of $25.59.
Glatfelter (NYSE:GLT) last posted its quarterly earnings data on Tuesday, August 1st. The basic materials company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by $0.14. The firm had revenue of $387.30 million during the quarter, compared to analyst estimates of $394.84 million. Glatfelter had a net margin of 0.59% and a return on equity of 8.32%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. Analysts forecast that Glatfelter will post $1.10 EPS for the current year.
Several analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Glatfelter from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 3rd. ValuEngine cut shares of Glatfelter from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. TheStreet cut shares of Glatfelter from a “b-” rating to a “c” rating in a research note on Monday, June 12th. Finally, BMO Capital Markets raised shares of Glatfelter from a “market perform” rating to an “outperform” rating and increased their price target for the company from $23.00 to $24.00 in a research note on Monday, May 15th. One 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. The stock currently has a consensus rating of “Hold” and an average price target of $22.69.
In other news, Chairman Dante C. Parrini acquired 5,800 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was acquired at an average price of $17.28 per share, with a total value of $100,224.00. Following the completion of the transaction, the chairman now directly owns 128,043 shares in the company, valued at approximately $2,212,583.04. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Nicholas Debenedictis acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average cost of $17.62 per share, with a total value of $88,100.00. Following the transaction, the director now owns 57,935 shares of the company’s stock, valued at $1,020,814.70. The disclosure for this purchase can be found here. Insiders own 2.30% of the company’s stock.
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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