Nicholas Debenedictis Purchases 5,000 Shares of Glatfelter (NYSE:GLT) Stock
Glatfelter (NYSE:GLT) Director Nicholas Debenedictis purchased 5,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average cost of $17.62 per share, for a total transaction of $88,100.00. Following the completion of the purchase, the director now directly owns 57,935 shares of the company’s stock, valued at $1,020,814.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Glatfelter (NYSE GLT) traded down 0.79% during mid-day trading on Tuesday, hitting $17.52. The stock had a trading volume of 165,591 shares. The company has a market cap of $763.57 million, a PE ratio of 83.03 and a beta of 1.31. Glatfelter has a 52-week low of $16.93 and a 52-week high of $25.59. The stock has a 50 day moving average price of $19.50 and a 200-day moving average price of $20.79.
Glatfelter (NYSE:GLT) last announced its earnings results on Tuesday, August 1st. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.14. The business had revenue of $387.30 million for the quarter, compared to analysts’ expectations of $394.84 million. Glatfelter had a return on equity of 8.32% and a net margin of 0.59%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 earnings per share. On average, equities analysts expect that Glatfelter will post $1.14 earnings per share for the current fiscal year.
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Institutional investors have recently modified their holdings of the stock. Keybank National Association OH bought a new position in shares of Glatfelter during the second quarter worth approximately $771,000. Prudential Financial Inc. boosted its stake in shares of Glatfelter by 22.7% in the second quarter. Prudential Financial Inc. now owns 237,883 shares of the basic materials company’s stock valued at $4,648,000 after buying an additional 44,060 shares during the last quarter. Stanley Laman Group Ltd. boosted its stake in shares of Glatfelter by 26.5% in the second quarter. Stanley Laman Group Ltd. now owns 15,349 shares of the basic materials company’s stock valued at $300,000 after buying an additional 3,215 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Glatfelter during the second quarter valued at approximately $29,208,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Glatfelter by 45.7% in the second quarter. BNP Paribas Arbitrage SA now owns 17,188 shares of the basic materials company’s stock valued at $336,000 after buying an additional 5,394 shares during the last quarter. Institutional investors own 90.78% of the company’s stock.
GLT has been the topic of a number of research analyst reports. Zacks Investment Research raised Glatfelter from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th. BMO Capital Markets raised Glatfelter from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $23.00 to $24.00 in a research note on Friday, May 5th. TheStreet raised Glatfelter from a “c” rating to a “b-” rating in a research note on Tuesday, May 2nd. Finally, ValuEngine raised 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price 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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