ValuEngine Lowers P H Glatfelter (NYSE:GLT) to Hold

ValuEngine lowered shares of P H Glatfelter (NYSE:GLT) from a buy rating to a hold rating in a research report sent to investors on Thursday, ValuEngine reports.

Separately, Zacks Investment Research raised Inflarx from a hold rating to a buy rating and set a $57.00 target price for the company in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $19.50.

NYSE GLT opened at $16.13 on Thursday. The business’s 50 day simple moving average is $16.13. P H Glatfelter has a 52-week low of $9.28 and a 52-week high of $20.51. The company has a current ratio of 1.94, a quick ratio of 1.11 and a debt-to-equity ratio of 0.69. The company has a market cap of $710.66 million, a PE ratio of 179.22, a price-to-earnings-growth ratio of 4.33 and a beta of 1.77.

P H Glatfelter (NYSE:GLT) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. P H Glatfelter had a positive return on equity of 0.71% and a negative net margin of 16.56%. The business had revenue of $229.10 million during the quarter, compared to analysts’ expectations of $241.84 million. During the same period in the prior year, the business earned $0.19 EPS. P H Glatfelter’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts anticipate that P H Glatfelter will post 0.75 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 3rd will be paid a dividend of $0.13 per share. The ex-dividend date is Tuesday, July 2nd. This represents a $0.52 annualized dividend and a dividend yield of 3.22%. P H Glatfelter’s dividend payout ratio is currently 247.62%.

In other news, VP Christopher W. Astley sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.11, for a total transaction of $105,770.00. Following the completion of the transaction, the vice president now directly owns 18,750 shares of the company’s stock, valued at approximately $283,312.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nicholas Debenedictis purchased 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average cost of $15.25 per share, with a total value of $30,500.00. Following the completion of the purchase, the director now directly owns 84,365 shares in the company, valued at $1,286,566.25. The disclosure for this purchase can be found here. Insiders have bought a total of 12,000 shares of company stock valued at $179,725 over the last ninety days. Company insiders own 2.06% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of GLT. BlackRock Inc. lifted its stake in P H Glatfelter by 2.9% in the 4th quarter. BlackRock Inc. now owns 6,410,919 shares of the basic materials company’s stock worth $62,570,000 after purchasing an additional 179,196 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of P H Glatfelter by 12.5% during the 4th quarter. Bank of New York Mellon Corp now owns 804,021 shares of the basic materials company’s stock valued at $7,847,000 after buying an additional 89,481 shares during the period. Texas Permanent School Fund raised its position in shares of P H Glatfelter by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 28,650 shares of the basic materials company’s stock valued at $280,000 after buying an additional 1,104 shares during the period. Citigroup Inc. raised its position in shares of P H Glatfelter by 37.9% during the 4th quarter. Citigroup Inc. now owns 39,130 shares of the basic materials company’s stock valued at $382,000 after buying an additional 10,746 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in shares of P H Glatfelter by 21.7% during the 4th quarter. Great West Life Assurance Co. Can now owns 64,762 shares of the basic materials company’s stock valued at $583,000 after buying an additional 11,534 shares during the period. 94.81% of the stock is owned by institutional investors.

About P H Glatfelter

P. H. Glatfelter Company, together with its subsidiaries, manufactures and sells engineered materials worldwide. The company's Composite Fibers business unit offers food and beverage filtration paper for single-serve coffee and tea products; wall covering base materials for wallpaper manufacturers; metallized products that are used in labels, packaging liners, gift wrap, and other consumer product applications; composite laminate papers for use in production of decorative laminates, furniture, and flooring applications; and special paper products, which are used in electrical energy storage, transport and transmission, wipes, and other engineered fiber-based applications.

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