P H Glatfelter Co (NYSE:GLT) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Thursday, May 11th. The firm presently has a $14.75 price objective on the basic materials company’s stock. ValuEngine‘s price target points to a potential downside of 20.23% from the stock’s current price.
A number of other analysts have also recently issued reports on the company. Zacks Investment Research upgraded P H Glatfelter from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. TheStreet cut P H Glatfelter from a “b-” rating to a “c” rating in a research report on Tuesday, February 7th. Finally, BMO Capital Markets upgraded P H Glatfelter from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $23.00 to $24.00 in a research report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $22.69.
P H Glatfelter (NYSE GLT) opened at 18.49 on Thursday. P H Glatfelter has a 12-month low of $17.50 and a 12-month high of $25.59. The stock has a market cap of $805.39 million, a price-to-earnings ratio of 48.28 and a beta of 1.33. The company has a 50-day moving average of $19.46 and a 200 day moving average of $22.08.
P H Glatfelter (NYSE:GLT) last issued its quarterly earnings results on Tuesday, May 2nd. The basic materials company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. P H Glatfelter had a return on equity of 8.85% and a net margin of 1.34%. The company had revenue of $390.70 million during the quarter, compared to analyst estimates of $400.65 million. During the same period in the previous year, the company earned $0.37 earnings per share. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities analysts anticipate that P H Glatfelter will post $1.35 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 3rd will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, June 29th. P H Glatfelter’s dividend payout ratio is presently 104.17%.
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Several hedge funds have recently added to or reduced their stakes in GLT. State Street Corp boosted its stake in P H Glatfelter by 11.3% in the first quarter. State Street Corp now owns 1,081,676 shares of the basic materials company’s stock worth $23,518,000 after buying an additional 109,459 shares in the last quarter. Bank of America Corp DE boosted its stake in P H Glatfelter by 9.7% in the first quarter. Bank of America Corp DE now owns 745,313 shares of the basic materials company’s stock worth $16,203,000 after buying an additional 66,191 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in P H Glatfelter by 9.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 337,205 shares of the basic materials company’s stock worth $7,331,000 after buying an additional 27,821 shares in the last quarter. BlackRock Inc. boosted its stake in shares of P H Glatfelter by 47,120.4% in the first quarter. BlackRock Inc. now owns 5,571,062 shares of the basic materials company’s stock worth $121,116,000 after buying an additional 5,559,264 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of P H Glatfelter by 5.3% in the first quarter. Geode Capital Management LLC now owns 330,596 shares of the basic materials company’s stock worth $7,187,000 after buying an additional 16,688 shares during the period. Institutional investors and hedge funds own 88.10% of the company’s stock.
About P H Glatfelter
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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