Foundry Partners LLC Has $5.56 Million Position in Glatfelter (GLT)
Foundry Partners LLC boosted its position in shares of Glatfelter (NYSE:GLT) by 33.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 284,335 shares of the basic materials company’s stock after buying an additional 71,260 shares during the period. Foundry Partners LLC owned about 0.65% of Glatfelter worth $5,556,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new position in Glatfelter during the fourth quarter worth $13,613,000. Teachers Advisors LLC raised its position in shares of Glatfelter by 6.9% in the fourth quarter. Teachers Advisors LLC now owns 74,676 shares of the basic materials company’s stock valued at $1,784,000 after buying an additional 4,822 shares during the period. Alpha Windward LLC raised its position in shares of Glatfelter by 0.6% in the first quarter. Alpha Windward LLC now owns 20,520 shares of the basic materials company’s stock valued at $446,000 after buying an additional 120 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Glatfelter by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the basic materials company’s stock valued at $385,000 after buying an additional 200 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of 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. 92.39% of the stock is owned by institutional investors and hedge funds.
Glatfelter (GLT) opened at 17.00 on Monday. Glatfelter has a 12 month low of $16.66 and a 12 month high of $25.59. The company’s 50-day moving average is $19.22 and its 200 day moving average is $20.58. The firm has a market cap of $740.91 million, a price-to-earnings ratio of 80.57 and a beta of 1.31.
Glatfelter (NYSE:GLT) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.08 by $0.14. The company had revenue of $387.30 million for the quarter, compared to analyst estimates of $394.84 million. Glatfelter had a return on equity of 8.32% and a net margin of 0.59%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 earnings per share. On average, equities research analysts predict that Glatfelter will post $1.10 earnings per share for the current year.
Several brokerages recently commented on GLT. Zacks Investment Research lowered shares of Glatfelter from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 3rd. ValuEngine lowered shares of Glatfelter from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. BMO Capital Markets raised shares of Glatfelter from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $23.00 to $24.00 in a research report on Monday, May 15th. Finally, TheStreet lowered shares of Glatfelter from a “b-” rating to a “c” rating in a research report on Monday, June 12th. One research analyst has rated the stock with a sell rating, two have issued 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 price target of $22.69.
In other Glatfelter news, Director Nicholas Debenedictis acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were purchased at an average price of $17.62 per share, with a total value of $88,100.00. Following the completion of the transaction, the director now owns 57,935 shares in the company, valued at $1,020,814.70. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Dante C. Parrini acquired 5,800 shares of the business’s stock in a transaction that occurred on 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 transaction, the chairman now owns 128,043 shares of the company’s stock, valued at approximately $2,212,583.04. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company’s stock.
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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