Municipal Employees Retirement System of Michigan grew its holdings in Glatfelter (NYSE:GLT) by 58.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,340 shares of the basic materials company’s stock after buying an additional 6,060 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Glatfelter were worth $318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GLT. Texas Permanent School Fund increased its position in Glatfelter by 0.8% during the second quarter. Texas Permanent School Fund now owns 31,802 shares of the basic materials company’s stock worth $621,000 after purchasing an additional 266 shares during the last quarter. Sei Investments Co. lifted its stake in Glatfelter by 0.9% in the second quarter. Sei Investments Co. now owns 29,949 shares of the basic materials company’s stock worth $586,000 after acquiring an additional 272 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Glatfelter by 10.3% in the second quarter. Public Employees Retirement System of Ohio now owns 6,828 shares of the basic materials company’s stock worth $133,000 after acquiring an additional 638 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Glatfelter by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 34,641 shares of the basic materials company’s stock worth $677,000 after acquiring an additional 711 shares during the last quarter. Finally, Teachers Advisors LLC lifted its stake in Glatfelter by 1.0% in the first quarter. Teachers Advisors LLC now owns 75,400 shares of the basic materials company’s stock worth $1,639,000 after acquiring an additional 724 shares during the last quarter. Institutional investors and hedge funds own 91.03% of the company’s stock.

Glatfelter (NYSE:GLT) traded down $0.47 during mid-day trading on Monday, reaching $19.86. 118,500 shares of the company’s stock were exchanged, compared to its average volume of 166,617. The company has a current ratio of 1.70, a quick ratio of 0.94 and a debt-to-equity ratio of 0.65. Glatfelter has a 12 month low of $16.53 and a 12 month high of $25.59. The firm has a market capitalization of $865.63, a PE ratio of 16.15, a P/E/G ratio of 3.52 and a beta of 1.36.

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

In other Glatfelter news, EVP John P. Jacunski sold 6,674 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $20.85, for a total transaction of $139,152.90. Following the sale, the executive vice president now owns 57,464 shares of the company’s stock, valued at $1,198,124.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is currently owned by company insiders.

A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Glatfelter from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. ValuEngine upgraded shares of Glatfelter from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Finally, BidaskClub cut shares of Glatfelter from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.38.

ILLEGAL ACTIVITY NOTICE: This piece of content was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The correct version of this piece of content can be read at https://www.thecerbatgem.com/2017/12/11/municipal-employees-retirement-system-of-michigan-acquires-6060-shares-of-glatfelter-glt.html.

About Glatfelter

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.

Want to see what other hedge funds are holding GLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Glatfelter (NYSE:GLT).

Institutional Ownership by Quarter for Glatfelter (NYSE:GLT)

Receive News & Stock Ratings for Glatfelter Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glatfelter and related stocks with our FREE daily email newsletter.