Russell Investments Group Ltd. bought a new position in shares of Glatfelter Co. (NYSE:GLT – Get Rating) in the first quarter, according to the company in its latest 13F filing with the Securities & Exchange Commission. The fund bought 11,001 shares of the basic materials company, valued at around $135,000.
Other institutional investors and hedge funds have also recently changed their positions in the company. UMB Bank NA MO purchased a new equity stake in Glatfelter during the fourth quarter at a value of $34,000. Victory Capital Management Inc. increased its position in Glatfelter shares by 17.3% during the fourth quarter. Victory Capital Management Inc. now owns 429,396 shares of the basic materials company worth $7,386,000 after acquiring 63,256 additional shares in the last quarter. First Trust Advisors LP increased its position in shares of Glatfelter by 14.1% during the fourth quarter. First Trust Advisors LP now owns 72,227 shares of the basic materials company worth $1,242,000 after acquiring 8,925 additional shares in the last quarter. First Eagle Investment Management LLC increased its position in Glatfelter shares by 29.4% during the fourth quarter. First Eagle Investment Management LLC now owns 26,374 shares of the basic materials company worth $454,000 after acquiring 6,000 additional shares in the last quarter. Finally, Raymond James & Associates increased its position in Glatfelter shares by 133.4% during the fourth quarter. Raymond James & Associates now owns 30,610 shares of the basic materials company worth $526,000 after acquiring 17,496 additional shares in the last quarter. Institutional investors hold 91.43% of the company’s shares.
Glatfelter stock down 5.8%
NYSE: GLT opened at $4.91 on Thursday. Glatfelter Co. has a 1-year minimum of $4.88 and a 1-year maximum of $18.74. The company has a current ratio of 1.94, a quick ratio of 1.00 and a debt ratio of 2.00. The stock has a market capitalization of $219.85 million, a price-earnings ratio of -1.95 and a beta of 1.36. The stock has a 50-day moving average price of $6.28 and a 200-day moving average price of $9.59.
Glatfelter (NYSE:GLT – Get Rating) last released its results on Tuesday, August 2. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.23) by $0.19. Glatfelter posted a positive return on equity of 0.70% and a negative net margin of 8.33%.
Wall Street analysts predict growth
A number of brokerages have recently commented on GLT. TheStreet upgraded Glatfelter from a “c” rating to a “d+” rating in a Tuesday, May 3 research note. BMO Capital Markets reduced its target price on Glatfelter from $18.00 to $12.00 in a Tuesday, May 10 research note.
Glatfelter company profile
(Get a rating)
Glatfelter Corporation, together with its subsidiaries, manufactures and sells engineered materials worldwide. It operates through three segments: Composite Fibers, Airlaid Materials and Spunlace. The Composite Fibers segment offers food and beverage filtration materials for single-serve coffee and tea products; base materials for wall coverings for wallpaper manufacturers; metallized products used in labels, packaging liners, gift wrap and other consumer product applications; composite laminates comprised of decorative laminates for furniture, household and commercial flooring and other applications; and specialty engineered products, which are used in electrical energy storage, home, hygiene and other engineered fiber applications.
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