Penn Capital Management Co. Inc. grew its holdings in P H Glatfelter Co (NYSE:GLT) by 12.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,727 shares of the basic materials company’s stock after purchasing an additional 27,299 shares during the quarter. Penn Capital Management Co. Inc. owned about 0.57% of P H Glatfelter worth $3,526,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in GLT. Starr International Co. Inc. acquired a new stake in shares of P H Glatfelter during the 1st quarter worth approximately $122,000. Municipal Employees Retirement System of Michigan acquired a new stake in shares of P H Glatfelter during the 4th quarter worth approximately $124,000. BNP Paribas Arbitrage SA increased its holdings in shares of P H Glatfelter by 142.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,087 shares of the basic materials company’s stock worth $142,000 after buying an additional 5,930 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in shares of P H Glatfelter by 431.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 15,221 shares of the basic materials company’s stock worth $149,000 after buying an additional 12,359 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of P H Glatfelter during the 4th quarter worth approximately $151,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.
P H Glatfelter stock opened at $15.38 on Thursday. P H Glatfelter Co has a fifty-two week low of $9.28 and a fifty-two week high of $20.51. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.94 and a quick ratio of 1.11. The company has a market capitalization of $664.40 million, a P/E ratio of 73.24, a P/E/G ratio of 4.19 and a beta of 1.79.
P H Glatfelter (NYSE:GLT) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.05. P H Glatfelter had a negative net margin of 16.56% and a positive return on equity of 0.71%. The firm had revenue of $229.10 million during the quarter, compared to the consensus estimate of $241.84 million. During the same quarter last year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, sell-side analysts expect that P H Glatfelter Co will post 0.72 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 3rd will be issued a $0.13 dividend. The ex-dividend date is Tuesday, July 2nd. This represents a $0.52 annualized dividend and a yield of 3.38%. P H Glatfelter’s dividend payout ratio (DPR) is presently 247.62%.
In related news, VP Christopher W. Astley sold 7,000 shares of P H Glatfelter stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.11, for a total value of $105,770.00. Following the completion of the sale, the vice president now owns 18,750 shares in the company, valued at approximately $283,312.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.06% of the stock is currently owned by company insiders.
A number of brokerages have recently issued reports on GLT. Zacks Investment Research upgraded shares of P H Glatfelter from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Friday, April 19th. ValuEngine downgraded shares of P H Glatfelter from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Finally, BMO Capital Markets cut their price target on shares of P H Glatfelter from $22.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, February 13th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $19.50.
P H Glatfelter Profile
P. H. Glatfelter Company, together with its subsidiaries, manufactures and sells engineered materials worldwide. The company's Composite Fibers business unit offers food and beverage filtration paper for single-serve coffee and tea products; wall covering base materials for wallpaper manufacturers; metallized products that are used in labels, packaging liners, gift wrap, and other consumer product applications; composite laminate papers for use in production of decorative laminates, furniture, and flooring applications; and special paper products, which are used in electrical energy storage, transport and transmission, wipes, and other engineered fiber-based applications.
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