NWQ Investment Management Company LLC grew its stake in Glatfelter (NYSE:GLT) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,204,360 shares of the basic materials company’s stock after acquiring an additional 86,425 shares during the period. NWQ Investment Management Company LLC owned 2.76% of Glatfelter worth $23,425,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. Victory Capital Management Inc. purchased a new stake in shares of Glatfelter in the 2nd quarter worth approximately $29,208,000. Denver Investment Advisors LLC lifted its position in Glatfelter by 181.3% during the second quarter. Denver Investment Advisors LLC now owns 781,173 shares of the basic materials company’s stock valued at $15,264,000 after acquiring an additional 503,438 shares during the last quarter. Penn Capital Management Co. Inc. purchased a new stake in Glatfelter during the second quarter valued at approximately $3,060,000. First Manhattan Co. lifted its position in Glatfelter by 31.4% during the third 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 last quarter. Finally, Foundry Partners LLC lifted its position in Glatfelter by 35.1% during the third 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 last quarter. Institutional investors and hedge funds own 91.03% of the company’s stock.
A number of equities research analysts recently commented on the stock. ValuEngine cut shares of Glatfelter from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Zacks Investment Research cut shares of Glatfelter from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Finally, BidaskClub cut shares of Glatfelter from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. Glatfelter has a consensus rating of “Hold” and an average target price of $19.38.
In other Glatfelter news, EVP John P. Jacunski sold 6,674 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were 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 of the company’s stock, valued at $1,198,124.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.30% of the company’s stock.
Glatfelter (NYSE:GLT) traded down $0.08 during trading hours on Friday, reaching $20.33. 107,500 shares of the company were exchanged, compared to its average volume of 166,821. The stock has a market capitalization of $889.60, a PE ratio of 16.59, a price-to-earnings-growth ratio of 3.61 and a beta of 1.36. Glatfelter has a 12 month low of $16.53 and a 12 month high of $25.59. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.70 and a quick ratio of 0.94.
Glatfelter (NYSE:GLT) last posted its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ 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 net margin of 0.11% and a return on equity of 7.96%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company posted $0.54 earnings per share. equities analysts anticipate that Glatfelter will post 1.13 earnings per share for the current fiscal year.
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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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