The Glatfelter (GLT) Shares Sold by SECOR Capital Advisors LP

The Glatfelter (GLT) Shares Sold by SECOR Capital Advisors LP

SECOR Capital Advisors LP reduced its position in shares of Glatfelter (NYSE:GLT) by 74.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,829 shares of the company’s stock after selling 43,372 shares during the period. SECOR Capital Advisors LP’s holdings in Glatfelter were worth $321,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PineBridge Investments L.P. boosted its position in shares of Glatfelter by 3.9% in the second quarter. PineBridge Investments L.P. now owns 5,517 shares of the company’s stock worth $108,000 after buying an additional 208 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Glatfelter by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 6,070 shares of the company’s stock worth $119,000 after buying an additional 737 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Glatfelter by 8.3% in the second quarter. Public Employees Retirement System of Ohio now owns 7,001 shares of the company’s stock worth $137,000 after buying an additional 534 shares during the period. Mason Street Advisors LLC acquired a new position in shares of Glatfelter during the second quarter worth $166,000. Finally, M&T Bank Corp acquired a new position in shares of Glatfelter during the third quarter worth $212,000. 89.15% of the stock is owned by institutional investors.

Glatfelter (NYSE:GLT) traded down 0.57% during mid-day trading on Wednesday, reaching $22.79. 215,786 shares of the company’s stock traded hands. Glatfelter has a 52-week low of $14.09 and a 52-week high of $25.49. The company has a market capitalization of $992.48 million, a price-to-earnings ratio of 13.90 and a beta of 1.32. The company has a 50-day moving average of $23.85 and a 200-day moving average of $21.99.

Glatfelter (NYSE:GLT) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by $0.01. The company earned $405.30 million during the quarter, compared to analyst estimates of $426.09 million. Glatfelter had a return on equity of 9.69% and a net margin of 4.42%. The company’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.12) earnings per share. Equities research analysts expect that Glatfelter will post $1.39 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 3rd will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Thursday, December 29th. Glatfelter’s dividend payout ratio is currently 30.68%.

GLT has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Glatfelter from a “hold” rating to a “strong sell” rating in a research note on Friday, November 4th. BMO Capital Markets raised shares of Glatfelter from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $22.00 to $23.00 in a research note on Wednesday, November 2nd. They noted that the move was a valuation call. TheStreet raised shares of Glatfelter from a “hold” rating to a “buy” rating in a research note on Tuesday, November 29th. Finally, DA Davidson cut shares of Glatfelter from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $22.00 to $25.00 in a research note on Wednesday, December 7th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.00.

Glatfelter Company Profile

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