State Street Corp lifted its stake in Glatfelter (NYSE:GLT) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,137,626 shares of the basic materials company’s stock after buying an additional 55,950 shares during the period. State Street Corp owned about 2.61% of Glatfelter worth $22,230,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of Montreal Can grew its position in Glatfelter by 73.5% during the 2nd quarter. Bank of Montreal Can now owns 5,607 shares of the basic materials company’s stock worth $110,000 after acquiring an additional 2,376 shares during the last quarter. State of Alaska Department of Revenue grew its position in Glatfelter by 78.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,597 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 3,787 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in Glatfelter during the 1st quarter worth approximately $256,000. Stanley Laman Group Ltd. grew its position in Glatfelter by 26.5% during the 2nd quarter. Stanley Laman Group Ltd. now owns 15,349 shares of the basic materials company’s stock worth $300,000 after acquiring an additional 3,215 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in Glatfelter by 45.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 17,188 shares of the basic materials company’s stock worth $336,000 after acquiring an additional 5,394 shares during the last quarter. 90.95% of the stock is owned by institutional investors and hedge funds.

Glatfelter (NYSE:GLT) opened at $19.34 on Thursday. The company has a market capitalization of $848.19, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 3.44 and a beta of 1.39. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.70 and a quick ratio of 0.94. Glatfelter has a 12-month low of $16.53 and a 12-month high of $25.59.

Glatfelter (NYSE:GLT) last announced its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.11. The firm had revenue of $413.00 million for the quarter, compared to analyst estimates of $402.74 million. Glatfelter had a return on equity of 7.96% and a net margin of 0.11%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.54 EPS. equities research analysts predict that Glatfelter will post 1.13 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 11th were given a $0.13 dividend. The ex-dividend date was Tuesday, October 10th. This represents a $0.52 dividend on an annualized basis and a yield of 2.69%. Glatfelter’s payout ratio is 1,733.33%.

In other Glatfelter news, EVP John P. Jacunski sold 6,674 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $20.85, for a total value of $139,152.90. Following the transaction, the executive vice president now directly owns 57,464 shares in the company, valued at approximately $1,198,124.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is currently owned by company insiders.

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A number of research firms recently commented on GLT. ValuEngine lowered Glatfelter from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research lowered Glatfelter from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Finally, BidaskClub lowered Glatfelter from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Glatfelter currently has a consensus rating of “Hold” and an average target price of $21.25.

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.

Institutional Ownership by Quarter for Glatfelter (NYSE:GLT)

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