P H Glatfelter (NYSE:GLT) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of P H Glatfelter (NYSE:GLT) from a hold rating to a sell rating in a research note published on Monday morning, Zacks.com reports.

According to Zacks, “Glatfelter is a global supplier of specialty papers and engineered materials, offering innovation, world-class service and over a century and a half of technical expertise. Headquartered in York, PA, the Company serves customers. operations include facilities in Pennsylvania and Ohio. International operations include facilities in Canada, Germany, France, the United Kingdom and the Philippines, and sales and distribution offices in China and Russia. “

Other equities research analysts have also recently issued research reports about the stock. Cfra upgraded shares of P H Glatfelter from a sell rating to a hold rating in a research report on Wednesday, October 30th. ValuEngine cut shares of P H Glatfelter from a hold rating to a sell rating in a research report on Tuesday, December 24th.

Shares of GLT stock traded down $0.41 during mid-day trading on Monday, reaching $16.88. The company’s stock had a trading volume of 3,257 shares, compared to its average volume of 170,973. P H Glatfelter has a 1-year low of $12.88 and a 1-year high of $19.03. The company has a market cap of $767.69 million, a P/E ratio of -35.17 and a beta of 1.74. 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 moving average is $17.43 and its two-hundred day moving average is $16.45.

P H Glatfelter (NYSE:GLT) last announced its earnings results on Thursday, February 6th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $230.97 million during the quarter, compared to analysts’ expectations of $227.16 million. P H Glatfelter had a negative net margin of 2.32% and a positive return on equity of 6.15%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. Sell-side analysts anticipate that P H Glatfelter will post 0.86 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Saturday, February 1st. Investors of record on Friday, January 3rd were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Thursday, January 2nd. P H Glatfelter’s dividend payout ratio (DPR) is currently 69.33%.

Several institutional investors have recently made changes to their positions in GLT. Morgan Stanley increased its position in P H Glatfelter by 92.7% in the 2nd quarter. Morgan Stanley now owns 202,395 shares of the basic materials company’s stock valued at $3,417,000 after acquiring an additional 97,377 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in P H Glatfelter in the 2nd quarter valued at about $5,850,000. State of Alaska Department of Revenue increased its position in P H Glatfelter by 126.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 33,991 shares of the basic materials company’s stock valued at $523,000 after acquiring an additional 19,010 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in P H Glatfelter in the 3rd quarter valued at about $282,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in P H Glatfelter in the 3rd quarter valued at about $290,000. Institutional investors and hedge funds own 94.32% of the company’s stock.

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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