Glatfelter (NYSE:GLT) declared a quarterly dividend on Thursday, December 14th, RTT News reports. Stockholders of record on Wednesday, January 3rd will be paid a dividend of 0.13 per share by the basic materials company on Thursday, February 1st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Tuesday, January 2nd.
Glatfelter has decreased its dividend payment by an average of 1.3% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Glatfelter has a dividend payout ratio of 46.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Glatfelter to earn $1.37 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 38.0%.
Glatfelter (GLT) opened at $21.50 on Thursday. The company has a market cap of $931.44, a PE ratio of 716.67, a PEG ratio of 3.79 and a beta of 1.36. 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 52-week low of $16.53 and a 52-week high of $25.59.
GLT has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Glatfelter from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. TheStreet raised shares of Glatfelter from a “c+” rating to a “b-” rating in a report on Tuesday. Finally, ValuEngine raised shares of Glatfelter from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.38.
In other news, EVP John P. Jacunski sold 6,674 shares of the 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 directly owns 57,464 shares of the company’s stock, valued at $1,198,124.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.
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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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