Glatfelter (NYSE:GLT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

According to Zacks, “Glatfelter is a paper manufacturing company that manufactures printing papers and tobacco and other specialty papers. The company sells its products throughout the United States and in a number of foreign countries. Most of the company’s printing paper products are directed at the uncoated free-sheet portion of the industry. The company’s tobacco and other specialty papers are used for cigarette manufacturing and other specialty uses such as the manufacture of playing cards, stamps, labels and surgical gowns. “

Several other equities research analysts have also commented on the company. ValuEngine lowered Glatfelter from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub lowered Glatfelter from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Glatfelter currently has an average rating of “Hold” and an average price target of $21.25.

Glatfelter (NYSE:GLT) last issued its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.11. Glatfelter had a net margin of 0.11% and a return on equity of 8.08%. The company had revenue of $413.00 million for the quarter, compared to the consensus estimate of $402.74 million. During the same quarter in the prior year, the company earned $0.54 EPS. Glatfelter’s quarterly revenue was up 2.0% on a year-over-year basis.

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In related news, Director Nicholas Debenedictis acquired 5,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were acquired at an average price of $17.62 per share, for a total transaction of $88,100.00. Following the transaction, the director now owns 57,935 shares in the company, valued at approximately $1,020,814.70. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its position in Glatfelter by 2.1% in the 1st quarter. State of Alaska Department of Revenue now owns 4,810 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 100 shares in the last quarter. PineBridge Investments L.P. boosted its position in Glatfelter by 3.9% in the 2nd quarter. PineBridge Investments L.P. now owns 5,517 shares of the basic materials company’s stock worth $108,000 after purchasing an additional 208 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Glatfelter by 11.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,251 shares of the basic materials company’s stock worth $109,000 after purchasing an additional 559 shares in the last quarter. Bank of Montreal Can boosted its position in Glatfelter by 73.5% in the 2nd quarter. Bank of Montreal Can now owns 5,607 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 2,376 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in Glatfelter by 13.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,070 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 737 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

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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