Short Interest in P H Glatfelter Co (NYSE:GLT) Drops By 8.0%

P H Glatfelter Co (NYSE:GLT) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 1,433,800 shares, a decline of 8.0% from the June 30th total of 1,559,300 shares. Currently, 3.3% of the company’s shares are sold short. Based on an average daily trading volume, of 183,500 shares, the short-interest ratio is currently 7.8 days.

GLT traded down $0.43 during trading on Thursday, hitting $13.27. The company had a trading volume of 122,505 shares, compared to its average volume of 243,796. The company has a market capitalization of $602.92 million, a PE ratio of 63.19, a PEG ratio of 3.82 and a beta of 1.75. P H Glatfelter has a one year low of $9.28 and a one year high of $20.40. The firm’s 50-day moving average price is $15.92 and its 200 day moving average price is $14.92. The company has a quick ratio of 1.06, a current ratio of 1.91 and a debt-to-equity ratio of 0.67.

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

Several equities research analysts recently commented on GLT shares. Zacks Investment Research cut shares of P H Glatfelter from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. ValuEngine cut shares of P H Glatfelter from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Two investment 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 price target of $19.50.

In other news, Director Nicholas Debenedictis purchased 2,500 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was bought at an average price of $14.81 per share, with a total value of $37,025.00. Following the acquisition, the director now directly owns 82,365 shares of the company’s stock, valued at $1,219,825.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 12,000 shares of company stock valued at $179,725 in the last three months. 2.06% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quantamental Technologies LLC bought a new stake in P H Glatfelter during the 2nd quarter worth about $39,000. Starr International Co. Inc. bought a new stake in P H Glatfelter during the 1st quarter worth about $122,000. Municipal Employees Retirement System of Michigan bought a new stake in P H Glatfelter during the 4th quarter worth about $124,000. Panagora Asset Management Inc. bought a new stake in P H Glatfelter during the 2nd quarter worth about $124,000. Finally, BNP Paribas Arbitrage SA lifted its position 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 worth $142,000 after buying an additional 5,930 shares in the last quarter. 95.60% of the stock is currently owned by institutional investors and hedge funds.

About P H Glatfelter

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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