P H Glatfelter Co (GLT) Upgraded by BMO Capital Markets to “Outperform”
P H Glatfelter Co (NYSE:GLT) was upgraded by research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Monday, May 15th, StockTargetPrices.com reports. The firm currently has a $24.00 price target on the basic materials company’s stock, up from their prior price target of $23.00. BMO Capital Markets’ target price points to a potential upside of 31.15% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the stock. ValuEngine raised shares of P H Glatfelter from a “hold” rating to a “buy” rating and set a $14.75 target price on the stock in a research note on Thursday, May 11th. TheStreet raised shares of P H Glatfelter from a “c” rating to a “b-” rating in a research note on Tuesday, May 2nd. Finally, Zacks Investment Research downgraded shares of P H Glatfelter from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. P H Glatfelter has an average rating of “Hold” and an average price target of $22.69.
P H Glatfelter (NYSE:GLT) opened at 18.30 on Monday. The company has a 50-day moving average of $19.81 and a 200-day moving average of $22.13. The stock has a market cap of $797.11 million, a PE ratio of 47.78 and a beta of 1.33. P H Glatfelter has a 12 month low of $17.50 and a 12 month high of $25.59.
P H Glatfelter (NYSE:GLT) last released its quarterly earnings data on Tuesday, May 2nd. The basic materials company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. P H Glatfelter had a net margin of 1.34% and a return on equity of 8.85%. The business had revenue of $390.70 million during the quarter, compared to analyst estimates of $400.65 million. During the same quarter last year, the business earned $0.37 earnings per share. P H Glatfelter’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities analysts forecast that P H Glatfelter will post $1.35 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 3rd will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, June 29th. P H Glatfelter’s dividend payout ratio is presently 104.17%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in P H Glatfelter by 11.3% in the first quarter. State Street Corp now owns 1,081,676 shares of the basic materials company’s stock valued at $23,518,000 after buying an additional 109,459 shares in the last quarter. Bank of America Corp DE increased its position in P H Glatfelter by 9.7% in the first quarter. Bank of America Corp DE now owns 745,313 shares of the basic materials company’s stock valued at $16,203,000 after buying an additional 66,191 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in P H Glatfelter by 9.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 337,205 shares of the basic materials company’s stock valued at $7,331,000 after buying an additional 27,821 shares in the last quarter. BlackRock Inc. increased its position in P H Glatfelter by 47,120.4% in the first quarter. BlackRock Inc. now owns 5,571,062 shares of the basic materials company’s stock valued at $121,116,000 after buying an additional 5,559,264 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in P H Glatfelter by 5.3% in the first quarter. Geode Capital Management LLC now owns 330,596 shares of the basic materials company’s stock valued at $7,187,000 after buying an additional 16,688 shares in the last quarter. 88.10% of the stock is currently owned by institutional investors.
About P H Glatfelter
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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