Glatfelter (GLT) Upgraded at ValuEngine

ValuEngine upgraded shares of Glatfelter (NYSE:GLT) from a hold rating to a buy rating in a report published on Thursday.

A number of other research analysts also recently weighed in on GLT. Zacks Investment Research downgraded Glatfelter from a hold rating to a sell rating in a research note on Thursday. BidaskClub downgraded Glatfelter from a hold rating to a sell rating in a research note on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $21.25.

Glatfelter (NYSE:GLT) traded down $0.15 during mid-day trading on Thursday, reaching $20.62. The company had a trading volume of 46,603 shares, compared to its average volume of 141,164. The company has a current ratio of 1.70, a quick ratio of 0.94 and a debt-to-equity ratio of 0.65. The firm has a market cap of $905.29, a P/E ratio of 16.89, a P/E/G ratio of 3.68 and a beta of 1.39. Glatfelter has a fifty-two week low of $16.53 and a fifty-two week high of $25.59.

Glatfelter (NYSE:GLT) last posted its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.11. The firm had revenue of $413.00 million during 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 business’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. equities analysts predict that Glatfelter will post 1.13 EPS for the current year.

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The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 11th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, October 10th. This represents a $0.52 dividend on an annualized basis and a yield of 2.52%. Glatfelter’s dividend payout ratio is 1,733.33%.

In other Glatfelter news, Director Nicholas Debenedictis bought 5,000 shares of Glatfelter stock in a transaction dated Tuesday, August 8th. The stock was bought at an average cost of $17.62 per share, for a total transaction of $88,100.00. Following the purchase, the director now owns 57,935 shares of the company’s stock, valued at approximately $1,020,814.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its stake in shares of Glatfelter by 73.5% during the 2nd 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. Envestnet Asset Management Inc. boosted its stake in shares of Glatfelter by 63.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,799 shares of the basic materials company’s stock worth $126,000 after acquiring an additional 2,246 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Glatfelter by 10.3% during the 2nd 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 boosted its stake in shares of Glatfelter by 78.7% during the 2nd 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. Finally, UBS Asset Management Americas Inc. bought a new position in shares of Glatfelter during the 1st quarter worth approximately $256,000. Institutional investors own 92.67% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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