Pinnacle Associates Ltd. trimmed its holdings in P H Glatfelter Co (NYSE:GLT) by 11.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,197 shares of the basic materials company’s stock after selling 4,653 shares during the period. Pinnacle Associates Ltd. owned 0.08% of P H Glatfelter worth $690,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC bought a new stake in P H Glatfelter during the 2nd quarter valued at $12,757,000. Fuller & Thaler Asset Management Inc. grew its holdings in shares of P H Glatfelter by 5.6% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,249,660 shares of the basic materials company’s stock valued at $63,661,000 after buying an additional 171,326 shares in the last quarter. Silvercrest Asset Management Group LLC grew its holdings in shares of P H Glatfelter by 6.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 2,338,097 shares of the basic materials company’s stock valued at $48,001,000 after buying an additional 149,132 shares in the last quarter. Systematic Financial Management LP grew its holdings in shares of P H Glatfelter by 25.6% during the second quarter. Systematic Financial Management LP now owns 357,804 shares of the basic materials company’s stock valued at $7,009,000 after buying an additional 72,986 shares in the last quarter. Finally, BlackRock Inc. grew its stake in P H Glatfelter by 1.2% in the first quarter. BlackRock Inc. now owns 5,553,254 shares of the basic materials company’s stock valued at $114,008,000 after purchasing an additional 67,003 shares in the last quarter. Institutional investors own 93.29% of the company’s stock.

GLT has been the subject of several research analyst reports. Zacks Investment Research cut P H Glatfelter from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 21st. ValuEngine cut P H Glatfelter from a “hold” rating to a “sell” rating in a report on Monday, August 13th. BMO Capital Markets increased their target price on P H Glatfelter from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, August 23rd. Finally, DA Davidson upgraded P H Glatfelter from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 20th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company. P H Glatfelter has an average rating of “Buy” and a consensus target price of $26.00.

P H Glatfelter stock traded up $0.21 during mid-day trading on Friday, hitting $19.63. 169,751 shares of the company’s stock were exchanged, compared to its average volume of 290,088. P H Glatfelter Co has a fifty-two week low of $15.30 and a fifty-two week high of $23.85. The company has a market capitalization of $842.75 million, a PE ratio of 20.70, a PEG ratio of 4.67 and a beta of 1.19. The company has a current ratio of 1.79, a quick ratio of 0.99 and a debt-to-equity ratio of 0.74.

P H Glatfelter (NYSE:GLT) last announced its quarterly earnings data on Tuesday, July 31st. The basic materials company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.04). P H Glatfelter had a net margin of 0.02% and a return on equity of 5.83%. The company had revenue of $405.80 million during the quarter, compared to the consensus estimate of $418.73 million. During the same quarter in the previous year, the business earned ($0.06) EPS. P H Glatfelter’s revenue was up 4.8% on a year-over-year basis. analysts predict that P H Glatfelter Co will post 0.82 EPS for the current fiscal year.

P H Glatfelter Company Profile

P. H. Glatfelter Company, together with its subsidiaries, manufactures and sells specialty papers and 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.

Further Reading: Outstanding Shares and The Effect on Share Price

Institutional Ownership by Quarter for P H Glatfelter (NYSE:GLT)

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