Glatfelter (NYSE:GLT) Shares Sold by UBS Group AG
UBS Group AG decreased its stake in Glatfelter (NYSE:GLT) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,701 shares of the basic materials company’s stock after selling 296 shares during the period. UBS Group AG’s holdings in Glatfelter were worth $211,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in Glatfelter by 5.3% in the first quarter. Geode Capital Management LLC now owns 330,596 shares of the basic materials company’s stock worth $7,187,000 after buying an additional 16,688 shares during the period. Vanguard Group Inc. raised its stake in 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 during the period. Thrivent Financial For Lutherans raised its stake in Glatfelter by 4.5% in the first quarter. Thrivent Financial For Lutherans now owns 24,470 shares of the basic materials company’s stock worth $532,000 after buying an additional 1,050 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Glatfelter by 3.2% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 84,854 shares of the basic materials company’s stock worth $1,845,000 after buying an additional 2,630 shares during the period. Finally, Anchor Capital Advisors LLC raised its stake in Glatfelter by 2.9% in the first quarter. Anchor Capital Advisors LLC now owns 29,087 shares of the basic materials company’s stock worth $632,000 after buying an additional 810 shares during the period. Institutional investors own 90.78% of the company’s stock.
Glatfelter (GLT) traded down 0.757% on Monday, reaching $17.705. The company’s stock had a trading volume of 64,328 shares. The firm has a market capitalization of $771.64 million, a PE ratio of 83.910 and a beta of 1.31. The stock’s 50 day moving average is $19.66 and its 200-day moving average is $20.86. Glatfelter has a 52 week low of $17.50 and a 52 week high of $25.59.
Glatfelter (NYSE:GLT) last posted its quarterly earnings data on Tuesday, August 1st. The basic materials company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by $0.14. The business had revenue of $387.30 million during the quarter, compared to the consensus estimate of $394.84 million. Glatfelter had a return on equity of 8.32% and a net margin of 0.59%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Analysts predict that Glatfelter will post $1.14 EPS for the current year.
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A number of equities research analysts have recently issued reports on the company. ValuEngine lowered Glatfelter from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. BMO Capital Markets upgraded Glatfelter from a “market perform” rating to an “outperform” rating and increased their target price for the company from $23.00 to $24.00 in a research note on Monday, May 15th. TheStreet lowered Glatfelter from a “b-” rating to a “c” rating in a research note on Monday, June 12th. Finally, Zacks Investment Research lowered Glatfelter from a “hold” rating to a “strong sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Glatfelter presently has an average rating of “Hold” and an average target price of $22.69.
In other Glatfelter news, Chairman Dante C. Parrini acquired 5,800 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average cost of $17.28 per share, for a total transaction of $100,224.00. Following the completion of the purchase, the chairman now owns 128,043 shares of the company’s stock, valued at approximately $2,212,583.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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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