Penn Capital Management Co. Inc. boosted its stake in P H Glatfelter Co (NYSE:GLT) by 12.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 249,727 shares of the basic materials company’s stock after acquiring an additional 27,299 shares during the period. Penn Capital Management Co. Inc.’s holdings in P H Glatfelter were worth $3,526,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in GLT. Starr International Co. Inc. acquired a new position in P H Glatfelter in the first quarter valued at $122,000. BNP Paribas Arbitrage SA increased its stake in P H Glatfelter by 142.7% in the first quarter. BNP Paribas Arbitrage SA now owns 10,087 shares of the basic materials company’s stock valued at $142,000 after purchasing an additional 5,930 shares during the period. Municipal Employees Retirement System of Michigan acquired a new position in P H Glatfelter in the fourth quarter valued at $124,000. Metropolitan Life Insurance Co. NY increased its stake in P H Glatfelter by 431.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 15,221 shares of the basic materials company’s stock valued at $149,000 after purchasing an additional 12,359 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in P H Glatfelter in the fourth quarter valued at $151,000. 94.97% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Christopher W. Astley sold 7,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.11, for a total transaction of $105,770.00. Following the transaction, the vice president now directly owns 18,750 shares in the company, valued at $283,312.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.06% of the company’s stock.
P H Glatfelter (NYSE:GLT) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The company had revenue of $229.10 million for the quarter, compared to analyst estimates of $241.84 million. P H Glatfelter had a negative net margin of 16.56% and a positive return on equity of 0.71%. P H Glatfelter’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 earnings per share. Equities analysts anticipate that P H Glatfelter Co will post 0.72 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 3rd will be paid a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 3.38%. P H Glatfelter’s dividend payout ratio is presently 247.62%.
A number of research firms have commented 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 objective on the stock in a research note on Friday, April 19th. BMO Capital Markets dropped their price objective on shares of P H Glatfelter from $22.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 13th. Finally, ValuEngine lowered shares of P H Glatfelter from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $19.50.
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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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