P H Glatfelter (NYSE:GLT) Lowered to “Hold” at Zacks Investment Research

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Zacks Investment Research cut shares of P H Glatfelter (NYSE:GLT) from a buy rating to a hold rating in a report issued on Friday 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. “

Separately, ValuEngine cut P H Glatfelter from a buy rating to a hold rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $19.50.

Shares of GLT opened at $14.67 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.11 and a current ratio of 1.91. The stock has a 50-day moving average of $16.27. The stock has a market capitalization of $670.07 million, a PE ratio of 69.86, a price-to-earnings-growth ratio of 4.16 and a beta of 1.75. P H Glatfelter has a 52 week low of $9.28 and a 52 week high of $20.40.

P H Glatfelter (NYSE:GLT) last issued its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. P H Glatfelter had a positive return on equity of 3.05% and a negative net margin of 18.24%. The business had revenue of $235.70 million during the quarter, compared to analysts’ expectations of $251.05 million. During the same quarter in the prior year, the business posted ($0.10) earnings per share. The business’s quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts forecast that P H Glatfelter will post 0.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 3rd were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Tuesday, July 2nd. P H Glatfelter’s dividend payout ratio is currently 247.62%.

In other P H Glatfelter news, Director Nicholas Debenedictis bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was purchased at an average price of $15.25 per share, for a total transaction of $30,500.00. Following the completion of the transaction, the director now owns 84,365 shares of the company’s stock, valued at approximately $1,286,566.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 12,000 shares of company stock valued at $179,725 in the last quarter. 2.06% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in GLT. Starr International Co. Inc. purchased a new position in P H Glatfelter during the 1st quarter valued at approximately $122,000. BNP Paribas Arbitrage SA grew its holdings in P H Glatfelter by 142.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,087 shares of the basic materials company’s stock valued at $142,000 after buying an additional 5,930 shares in the last quarter. KBC Group NV purchased a new position in P H Glatfelter during the 2nd quarter valued at approximately $202,000. Municipal Employees Retirement System of Michigan purchased a new position in P H Glatfelter during the 4th quarter valued at approximately $124,000. Finally, Metropolitan Life Insurance Co. NY grew its holdings in P H Glatfelter by 431.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 15,221 shares of the basic materials company’s stock valued at $149,000 after buying an additional 12,359 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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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