Glatfelter (GLT) Position Lessened by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its holdings in shares of Glatfelter (NYSE:GLT) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 362,373 shares of the basic materials company’s stock after selling 6,876 shares during the quarter. Ameriprise Financial Inc. owned 0.83% of Glatfelter worth $7,048,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GLT. Victory Capital Management Inc. acquired a new stake in shares of Glatfelter during the 2nd quarter worth about $29,208,000. Penn Capital Management Co. Inc. purchased a new position in Glatfelter during the 2nd quarter valued at about $3,060,000. First Manhattan Co. boosted its holdings in Glatfelter by 31.4% during the 3rd quarter. First Manhattan Co. now owns 613,383 shares of the basic materials company’s stock valued at $11,930,000 after acquiring an additional 146,530 shares during the period. Foundry Partners LLC boosted its holdings in Glatfelter by 35.1% during the 3rd quarter. Foundry Partners LLC now owns 384,180 shares of the basic materials company’s stock valued at $7,472,000 after acquiring an additional 99,845 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Glatfelter by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,069,825 shares of the basic materials company’s stock valued at $79,524,000 after acquiring an additional 74,857 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Glatfelter (NYSE GLT) opened at $21.40 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.70 and a quick ratio of 0.94. The stock has a market capitalization of $931.01, a PE ratio of 713.33, a PEG ratio of 3.78 and a beta of 1.36. Glatfelter has a 52 week low of $16.53 and a 52 week high of $25.59.

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

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Tuesday, January 2nd. Glatfelter’s payout ratio is presently 1,733.33%.

A number of equities analysts recently commented on the company. Zacks Investment Research cut Glatfelter from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. ValuEngine upgraded Glatfelter from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued 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 $19.38.

In other news, EVP John P. Jacunski sold 6,674 shares of Glatfelter stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $20.85, for a total value of $139,152.90. Following the completion of the transaction, the executive vice president now owns 57,464 shares in the company, valued at approximately $1,198,124.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

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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.

Institutional Ownership by Quarter for Glatfelter (NYSE:GLT)

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