Dante C. Parrini Purchases 5,800 Shares of Glatfelter (NYSE:GLT) Stock
Glatfelter (NYSE:GLT) Chairman Dante C. Parrini bought 5,800 shares of Glatfelter stock in a transaction on Thursday, August 3rd. The stock was acquired at an average cost of $17.28 per share, with a total value of $100,224.00. Following the acquisition, the chairman now owns 128,043 shares in the company, valued at approximately $2,212,583.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Glatfelter (GLT) traded down 0.73% during trading on Monday, hitting $17.71. The stock had a trading volume of 79,574 shares. The company’s 50 day moving average is $19.65 and its 200 day moving average is $20.86. The firm has a market cap of $771.85 million, a PE ratio of 83.93 and a beta of 1.31. Glatfelter has a 52-week low of $17.50 and a 52-week high of $25.59.
Glatfelter (NYSE:GLT) last released its earnings results on Tuesday, August 1st. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.14. Glatfelter had a net margin of 0.59% and a return on equity of 8.32%. The firm had revenue of $387.30 million during the quarter, compared to analyst estimates of $394.84 million. During the same period in the previous year, the company earned $0.06 earnings per share. Glatfelter’s revenue was down 4.7% on a year-over-year basis. Equities research analysts forecast that Glatfelter will post $1.14 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its position in Glatfelter by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,810 shares of the basic materials company’s stock valued at $104,000 after buying an additional 100 shares during the last quarter. Alpha Windward LLC increased its position in Glatfelter by 0.6% in the first quarter. Alpha Windward LLC now owns 20,520 shares of the basic materials company’s stock valued at $446,000 after buying an additional 120 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in Glatfelter by 1.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 14,030 shares of the basic materials company’s stock valued at $305,000 after buying an additional 160 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Glatfelter by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the basic materials company’s stock valued at $385,000 after buying an additional 200 shares during the last quarter. Finally, Anchor Capital Advisors LLC increased its position in Glatfelter by 0.9% in the second quarter. Anchor Capital Advisors LLC now owns 29,337 shares of the basic materials company’s stock valued at $573,000 after buying an additional 250 shares during the last quarter. 90.78% of the stock is currently owned by hedge funds and other institutional investors.
GLT has been the subject of a number of research analyst reports. TheStreet raised Glatfelter from a “c” rating to a “b-” rating in a report on Tuesday, May 2nd. ValuEngine upgraded Glatfelter from a “hold” rating to a “buy” rating and set a $14.75 price target on the stock in a research note on Thursday, May 11th. Zacks Investment Research upgraded Glatfelter from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Finally, BMO Capital Markets upgraded Glatfelter from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $23.00 to $24.00 in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.69.
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.
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