P.H. Glatfelter Co. (NYSE:GLT) was upgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday. The firm currently has a $23.00 target price on the stock, up from their previous target price of $22.00. BMO Capital Markets’ price objective points to a potential downside of 2.29% from the company’s previous close. The analysts noted that the move was a valuation call.
A number of other research firms also recently weighed in on GLT. Zacks Investment Research upgraded P.H. Glatfelter from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. TheStreet downgraded P.H. Glatfelter from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $24.33.
P.H. Glatfelter (NYSE:GLT) traded down 0.17% during trading on Wednesday, hitting $23.54. The stock had a trading volume of 52,403 shares. The stock’s 50-day moving average is $21.28 and its 200 day moving average is $21.04. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 14.36 and a beta of 1.34. P.H. Glatfelter has a one year low of $14.09 and a one year high of $23.90.
P.H. Glatfelter (NYSE:GLT) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by $0.01. P.H. Glatfelter had a net margin of 4.42% and a return on equity of 9.69%. The business earned $405.30 million during the quarter, compared to analysts’ expectations of $426.09 million. During the same quarter last year, the firm earned ($0.12) earnings per share. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. Equities analysts anticipate that P.H. Glatfelter will post $1.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Monday, October 3rd were issued a dividend of $0.125 per share. The ex-dividend date was Thursday, September 29th. This represents a $0.50 annualized dividend and a yield of 2.12%. P.H. Glatfelter’s dividend payout ratio is presently 30.68%.
Institutional investors have recently modified their holdings of the company. Silvercrest Asset Management Group LLC boosted its position in shares of P.H. Glatfelter by 3.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,791,331 shares of the company’s stock valued at $37,134,000 after buying an additional 55,514 shares in the last quarter. HBK Investments L P bought a new position in P.H. Glatfelter during the first quarter worth $383,000. First Republic Investment Management Inc. boosted its position in P.H. Glatfelter by 71.3% in the first quarter. First Republic Investment Management Inc. now owns 90,815 shares of the company’s stock worth $1,881,000 after buying an additional 37,804 shares during the period. Goldman Sachs Group Inc. boosted its position in P.H. Glatfelter by 209.1% in the first quarter. Goldman Sachs Group Inc. now owns 144,313 shares of the company’s stock worth $2,992,000 after buying an additional 97,629 shares during the period. Finally, BlackRock Fund Advisors boosted its position in P.H. Glatfelter by 1.2% in the first quarter. BlackRock Fund Advisors now owns 2,717,084 shares of the company’s stock worth $56,325,000 after buying an additional 32,658 shares during the period. 88.78% of the stock is owned by hedge funds and other institutional investors.
About P.H. Glatfelter