Zacks Investment Research Lowers P H Glatfelter Co (GLT) to Sell

Zacks Investment Research lowered shares of P H Glatfelter Co (NYSE:GLT) from a hold rating to a sell rating in a research note published on Wednesday morning.

According to Zacks, “Glatfelter is a paper manufacturing company that manufactures printing papers and tobacco and other specialty papers. The company sells its products throughout the United States and in a number of foreign countries. Most of the company’s printing paper products are directed at the uncoated free-sheet portion of the industry. The company’s tobacco and other specialty papers are used for cigarette manufacturing and other specialty uses such as the manufacture of playing cards, stamps, labels and surgical gowns. “

GLT has been the topic of a number of other research reports. TheStreet cut shares of P H Glatfelter from a b- rating to a c rating in a research note on Tuesday, February 7th. BMO Capital Markets cut shares of P H Glatfelter from an outperform rating to a market perform rating and set a $23.00 target price on the stock. in a research note on Tuesday, December 6th. They noted that the move was a valuation call. Finally, DA Davidson cut shares of P H Glatfelter from a buy rating to a neutral rating and lifted their target price for the company from $22.00 to $25.00 in a research note on Wednesday, December 7th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $25.00.

P H Glatfelter (NYSE:GLT) opened at 22.04 on Wednesday. P H Glatfelter has a 52 week low of $17.50 and a 52 week high of $25.59. The stock’s 50 day moving average price is $22.90 and its 200-day moving average price is $22.62. The company has a market capitalization of $960.02 million, a PE ratio of 44.98 and a beta of 1.33.

P H Glatfelter (NYSE:GLT) last released its earnings results on Tuesday, February 7th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by $0.02. P H Glatfelter had a net margin of 1.34% and a return on equity of 8.85%. The firm had revenue of $390.90 million for the quarter, compared to analysts’ expectations of $398.62 million. During the same quarter last year, the firm posted $0.52 EPS. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts predict that P H Glatfelter will post $1.54 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 3rd will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $0.52 annualized dividend and a yield of 2.36%. This is a boost from P H Glatfelter’s previous quarterly dividend of $0.13. P H Glatfelter’s payout ratio is presently 104.17%.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of P H Glatfelter by 4.1% in the third quarter. BlackRock Inc. now owns 12,767 shares of the company’s stock valued at $278,000 after buying an additional 508 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in shares of P H Glatfelter by 1.3% in the third quarter. BlackRock Investment Management LLC now owns 206,936 shares of the company’s stock valued at $4,486,000 after buying an additional 2,618 shares during the last quarter. LSV Asset Management boosted its stake in shares of P H Glatfelter by 29.6% in the third quarter. LSV Asset Management now owns 893,061 shares of the company’s stock valued at $19,361,000 after buying an additional 203,875 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of P H Glatfelter by 45.3% in the third quarter. JPMorgan Chase & Co. now owns 127,582 shares of the company’s stock valued at $2,766,000 after buying an additional 39,775 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in shares of P H Glatfelter during the third quarter valued at approximately $212,000. Institutional investors and hedge funds own 88.10% of the company’s stock.

P H Glatfelter Company Profile

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