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.

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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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