First Trust Advisors LP Sells 36,456 Shares of Glatfelter (GLT)
First Trust Advisors LP cut its position in Glatfelter (NYSE:GLT) by 33.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,149 shares of the basic materials company’s stock after selling 36,456 shares during the quarter. First Trust Advisors LP owned approximately 0.17% of Glatfelter worth $1,410,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Foundry Partners LLC raised its holdings in Glatfelter by 33.4% in the second quarter. Foundry Partners LLC now owns 284,335 shares of the basic materials company’s stock worth $5,556,000 after purchasing an additional 71,260 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Glatfelter by 9.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 369,416 shares of the basic materials company’s stock worth $7,219,000 after purchasing an additional 32,211 shares in the last quarter. Anchor Capital Advisors LLC raised its holdings in Glatfelter by 0.9% in the second quarter. Anchor Capital Advisors LLC now owns 29,337 shares of the basic materials company’s stock worth $573,000 after purchasing an additional 250 shares in the last quarter. Sei Investments Co. raised its holdings in Glatfelter by 0.9% in the second quarter. Sei Investments Co. now owns 29,949 shares of the basic materials company’s stock worth $586,000 after purchasing an additional 272 shares in the last quarter. Finally, First Manhattan Co. raised its holdings in Glatfelter by 33.2% in the second quarter. First Manhattan Co. now owns 466,853 shares of the basic materials company’s stock worth $9,122,000 after purchasing an additional 116,360 shares in the last quarter. Institutional investors and hedge funds own 89.36% of the company’s stock.
Glatfelter (NYSE GLT) opened at 18.07 on Friday. The firm has a market cap of $787.54 million, a P/E ratio of 85.64 and a beta of 1.33. Glatfelter has a 12-month low of $16.53 and a 12-month high of $25.59. The stock’s 50 day moving average is $17.45 and its 200 day moving average is $19.44.
Glatfelter (NYSE:GLT) last announced its quarterly earnings data on Tuesday, August 1st. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.14). The company had revenue of $387.30 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 EPS. On average, equities research analysts expect that Glatfelter will post $1.10 EPS for the current year.
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GLT has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Glatfelter from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub downgraded shares of Glatfelter from a “hold” rating to a “sell” rating in a report on Friday, August 25th. ValuEngine downgraded shares of Glatfelter from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, TheStreet downgraded shares of Glatfelter from a “b-” rating to a “c” rating in a report on Monday, June 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Glatfelter has a consensus rating of “Hold” and an average target price of $22.69.
In other Glatfelter news, Chairman Dante C. Parrini bought 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average price of $17.28 per share, for a total transaction of $100,224.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Nicholas Debenedictis bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were acquired at an average price of $17.62 per share, with a total value of $88,100.00. Following the purchase, 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. 2.30% of the stock is owned by 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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