Foundry Partners LLC Increases Stake in Glatfelter (GLT)

Foundry Partners LLC increased its stake in shares of Glatfelter (NYSE:GLT) by 35.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 384,180 shares of the basic materials company’s stock after acquiring an additional 99,845 shares during the period. Foundry Partners LLC owned about 0.88% of Glatfelter worth $7,472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of GLT. Bank of Montreal Can grew its holdings in Glatfelter by 73.5% during the second quarter. Bank of Montreal Can now owns 5,607 shares of the basic materials company’s stock worth $110,000 after acquiring an additional 2,376 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Glatfelter by 10.3% during 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 period. State of Alaska Department of Revenue grew its holdings in Glatfelter by 78.7% during the second quarter. State of Alaska Department of Revenue now owns 8,597 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 3,787 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in Glatfelter during the first quarter worth about $256,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Glatfelter during the third quarter worth about $298,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

GLT has been the topic of a number of recent analyst reports. BidaskClub downgraded Glatfelter from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Zacks Investment Research upgraded Glatfelter from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, ValuEngine downgraded Glatfelter from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $21.25.

In other Glatfelter news, Director Nicholas Debenedictis bought 5,000 shares of the business’s 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 purchase, the director now directly owns 57,935 shares in the company, valued at $1,020,814.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by company insiders.

Glatfelter (NYSE:GLT) opened at $20.77 on Friday. Glatfelter has a 1 year low of $16.53 and a 1 year high of $25.59. The company has a market capitalization of $905.28, a P/E ratio of 16.89, a P/E/G ratio of 3.68 and a beta of 1.39. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.82 and a current ratio of 1.70.

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

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 11th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, October 10th. This represents a $0.52 annualized dividend and a yield of 2.50%. Glatfelter’s dividend payout ratio (DPR) is 1,733.33%.

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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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Institutional Ownership by Quarter for Glatfelter (NYSE:GLT)

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