Thrivent Financial For Lutherans Grows Holdings in Glatfelter (GLT)
Thrivent Financial For Lutherans boosted its position in shares of Glatfelter (NYSE:GLT) by 6.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,170 shares of the basic materials company’s stock after purchasing an additional 1,700 shares during the period. Thrivent Financial For Lutherans owned about 0.06% of Glatfelter worth $511,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of GLT. BlackRock Inc. boosted its stake in shares of Glatfelter by 47,120.4% during the 1st quarter. BlackRock Inc. now owns 5,571,062 shares of the basic materials company’s stock worth $121,116,000 after buying an additional 5,559,264 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Glatfelter during the 2nd quarter worth about $29,208,000. Denver Investment Advisors LLC boosted its stake in shares of Glatfelter by 181.3% during the 2nd quarter. Denver Investment Advisors LLC now owns 781,173 shares of the basic materials company’s stock worth $15,264,000 after buying an additional 503,438 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of Glatfelter by 68.7% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 686,238 shares of the basic materials company’s stock worth $13,409,000 after buying an additional 279,444 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Glatfelter by 6.4% during the 1st 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 last quarter. Institutional investors own 89.36% of the company’s stock.
In related news, Director Nicholas Debenedictis bought 5,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were purchased at an average cost of $17.62 per share, for a total transaction of $88,100.00. Following the completion of the purchase, the director now directly owns 57,935 shares in the company, valued at $1,020,814.70. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Dante C. Parrini bought 5,800 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was bought 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 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 insiders.
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A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Glatfelter from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th. ValuEngine downgraded shares of Glatfelter from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub downgraded shares of Glatfelter from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.25.
Shares of Glatfelter (NYSE:GLT) opened at 19.24 on Tuesday. The company has a 50-day moving average of $18.30 and a 200 day moving average of $19.02. The firm has a market capitalization of $838.54 million, a P/E ratio of 91.18 and a beta of 1.34. Glatfelter has a 52 week low of $16.53 and a 52 week high of $25.59.
Glatfelter (NYSE:GLT) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.14). Glatfelter had a return on equity of 8.32% and a net margin of 0.59%. The firm had revenue of $387.30 million for the quarter, compared to analysts’ expectations of $394.84 million. During the same quarter last year, the firm posted $0.06 earnings per share. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. Equities research analysts anticipate that Glatfelter will post $1.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 11th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Tuesday, October 10th. Glatfelter’s payout ratio 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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