California Public Employees Retirement System reduced its stake in shares of P H Glatfelter Co (NYSE:GLT) by 20.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,028 shares of the basic materials company’s stock after selling 27,425 shares during the period. California Public Employees Retirement System owned 0.24% of P H Glatfelter worth $1,035,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in P H Glatfelter by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,689,417 shares of the basic materials company’s stock worth $89,614,000 after acquiring an additional 65,519 shares during the last quarter. Vanguard Group Inc boosted its holdings in shares of P H Glatfelter by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 4,689,417 shares of the basic materials company’s stock worth $89,614,000 after purchasing an additional 65,519 shares during the period. Mondrian Investment Partners LTD boosted its holdings in shares of P H Glatfelter by 16.9% in the 4th quarter. Mondrian Investment Partners LTD now owns 269,156 shares of the basic materials company’s stock worth $2,627,000 after purchasing an additional 38,928 shares during the period. NWQ Investment Management Company LLC boosted its holdings in shares of P H Glatfelter by 10.1% in the 3rd quarter. NWQ Investment Management Company LLC now owns 3,356,379 shares of the basic materials company’s stock worth $61,388,000 after purchasing an additional 308,593 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of P H Glatfelter by 3.5% in the 3rd quarter. BlackRock Inc. now owns 6,231,723 shares of the basic materials company’s stock worth $119,088,000 after purchasing an additional 208,683 shares during the period. 94.60% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on GLT. Zacks Investment Research upgraded P H Glatfelter from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 8th. BMO Capital Markets dropped their price objective on P H Glatfelter from $22.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, February 13th. Finally, ValuEngine cut P H Glatfelter from a “buy” rating to a “hold” rating in a report on Monday, February 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. P H Glatfelter has a consensus rating of “Buy” and a consensus price target of $19.50.
P H Glatfelter (NYSE:GLT) last posted its quarterly earnings data on Tuesday, February 5th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). P H Glatfelter had a negative net margin of 14.12% and a positive return on equity of 0.87%. The business had revenue of $229.48 million for the quarter, compared to analysts’ expectations of $224.89 million. During the same quarter in the previous year, the firm earned $0.20 EPS. P H Glatfelter’s revenue was up 9.6% compared to the same quarter last year. Equities analysts anticipate that P H Glatfelter Co will post 0.7 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 3rd will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Tuesday, April 2nd. P H Glatfelter’s dividend payout ratio is 247.62%.
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About P H Glatfelter
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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