ValuEngine Downgrades P H Glatfelter (NYSE:GLT) to Hold

P H Glatfelter (NYSE:GLT) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Wednesday, ValuEngine reports.

Several other research firms have also recently commented on GLT. Cfra raised shares of P H Glatfelter from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Zacks Investment Research raised shares of P H Glatfelter from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st.

Shares of NYSE GLT opened at $18.63 on Wednesday. P H Glatfelter has a fifty-two week low of $9.28 and a fifty-two week high of $19.03. The stock has a market cap of $828.65 million, a price-to-earnings ratio of 88.71 and a beta of 1.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.88. The firm’s 50-day simple moving average is $15.63 and its 200 day simple moving average is $15.50.

P H Glatfelter (NYSE:GLT) last announced its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.04. P H Glatfelter had a negative net margin of 6.13% and a positive return on equity of 4.99%. The business had revenue of $232.50 million for the quarter, compared to analysts’ expectations of $244.66 million. The company’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts predict that P H Glatfelter will post 0.71 EPS for the current year.

Several institutional investors have recently bought and sold shares of GLT. Heartland Advisors Inc. bought a new position in shares of P H Glatfelter during the 2nd quarter worth approximately $7,313,000. Nuveen Asset Management LLC bought a new position in shares of P H Glatfelter during the 2nd quarter worth approximately $5,850,000. Vanguard Group Inc. lifted its position in shares of P H Glatfelter by 8.6% during the 2nd quarter. Vanguard Group Inc. now owns 4,371,751 shares of the basic materials company’s stock worth $73,795,000 after buying an additional 344,449 shares in the last quarter. Global Trust Asset Management LLC bought a new position in shares of P H Glatfelter during the 2nd quarter worth approximately $214,000. Finally, Russell Investments Group Ltd. lifted its position in shares of P H Glatfelter by 112.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 321,387 shares of the basic materials company’s stock worth $5,422,000 after buying an additional 170,419 shares in the last quarter. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

P H Glatfelter Company 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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