Shares of Glatfelter (NYSE:GLT) have received an average rating of “Hold” from the six brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $24.50.

A number of brokerages have recently issued reports on GLT. ValuEngine cut shares of Glatfelter from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Glatfelter from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th. TheStreet cut shares of Glatfelter from a “b-” rating to a “c” rating in a research note on Monday, June 12th. Finally, BidaskClub cut shares of Glatfelter from a “hold” rating to a “sell” rating in a research note on Friday, August 25th.

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In other news, Director Nicholas Debenedictis bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was acquired at an average price of $17.62 per share, for a total transaction of $88,100.00. Following the transaction, the director now directly owns 57,935 shares of the company’s stock, valued at approximately $1,020,814.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Dante C. Parrini bought 5,800 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were purchased at an average price of $17.28 per share, with a total value of $100,224.00. Following the transaction, the chairman now directly owns 128,043 shares in the company, valued at $2,212,583.04. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can increased its position in shares of Glatfelter by 73.5% during 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. Envestnet Asset Management Inc. increased its position in shares of Glatfelter by 63.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,799 shares of the basic materials company’s stock worth $126,000 after purchasing an additional 2,246 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Glatfelter by 10.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,828 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 638 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Glatfelter by 78.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,597 shares of the basic materials company’s stock worth $167,000 after purchasing an additional 3,787 shares in the last quarter. Finally, Mason Street Advisors LLC increased its position in shares of Glatfelter by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 10,185 shares of the basic materials company’s stock worth $221,000 after purchasing an additional 669 shares in the last quarter. Institutional investors and hedge funds own 89.36% of the company’s stock.

Shares of Glatfelter (NYSE:GLT) traded up 0.11% during midday trading on Tuesday, hitting $18.22. 185,828 shares of the company were exchanged. Glatfelter has a one year low of $16.53 and a one year high of $25.59. The stock has a market cap of $794.08 million, a PE ratio of 86.35 and a beta of 1.33. The stock’s 50-day moving average is $17.33 and its 200-day moving average is $19.34.

Glatfelter (NYSE:GLT) last announced its quarterly earnings data on Tuesday, August 1st. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.14). Glatfelter had a net margin of 0.59% and a return on equity of 8.32%. The business had revenue of $387.30 million during the quarter, compared to analyst estimates of $394.84 million. During the same quarter in the prior year, the company posted $0.06 EPS. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. Equities research analysts anticipate that Glatfelter will post $1.10 EPS for the current year.

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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