Glatfelter (GLT) Holdings Decreased by Public Sector Pension investment Board
Public Sector Pension investment Board cut its stake in shares of Glatfelter (NYSE:GLT) by 28.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,500 shares of the basic materials company’s stock after selling 9,000 shares during the period. Public Sector Pension investment Board owned approximately 0.05% of Glatfelter worth $440,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Glatfelter by 47,120.4% during the first quarter. BlackRock Inc. now owns 5,571,062 shares of the basic materials company’s stock valued at $121,116,000 after acquiring an additional 5,559,264 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Glatfelter by 6.4% during the first quarter. Vanguard Group Inc. now owns 3,994,968 shares of the basic materials company’s stock valued at $86,850,000 after acquiring an additional 240,676 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Glatfelter during the second quarter valued at about $29,208,000. LSV Asset Management increased its position in shares of Glatfelter by 1.4% during the second quarter. LSV Asset Management now owns 1,297,936 shares of the basic materials company’s stock valued at $25,361,000 after acquiring an additional 17,700 shares during the last quarter. Finally, State Street Corp increased its position in shares of Glatfelter by 11.3% during the first quarter. State Street Corp now owns 1,081,676 shares of the basic materials company’s stock valued at $23,518,000 after acquiring an additional 109,459 shares during the last quarter. Institutional investors and hedge funds own 89.36% of the company’s stock.
In other news, Director Nicholas Debenedictis acquired 5,000 shares of the stock in a transaction on Tuesday, August 8th. The stock was bought 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 directly owns 57,935 shares of the company’s stock, valued at $1,020,814.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Dante C. Parrini acquired 5,800 shares of the stock in a transaction on Thursday, August 3rd. The stock was purchased at an average cost of $17.28 per share, with a total value of $100,224.00. Following the transaction, the chairman now directly owns 128,043 shares of the company’s stock, valued at $2,212,583.04. The disclosure for this purchase can be found here. 2.30% of the stock is owned by company insiders.
A number of research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Glatfelter from a “hold” rating to a “strong sell” rating in a report on Thursday, August 3rd. ValuEngine upgraded shares of Glatfelter from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, BidaskClub cut shares of Glatfelter from a “hold” rating to a “sell” rating in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $21.25.
Glatfelter (NYSE:GLT) opened at 19.20 on Wednesday. The company has a 50 day moving average of $18.07 and a 200-day moving average of $19.07. The firm has a market cap of $836.79 million, a PE ratio of 91.00 and a beta of 1.34. Glatfelter has a one year low of $16.53 and a one year high of $25.59.
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 Thomson Reuters’ consensus estimate of $0.08 by ($0.14). Glatfelter had a net margin of 0.59% and a return on equity of 8.32%. The business had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $394.84 million. During the same quarter in the previous year, the business posted $0.06 EPS. The company’s quarterly revenue was down 4.7% on a year-over-year basis. On average, equities research analysts predict that Glatfelter will post $1.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 11th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.71%. The ex-dividend date is Tuesday, October 10th. Glatfelter’s dividend payout ratio (DPR) is 260.01%.
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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