P H Glatfelter Co (NYSE:GLT) announced a quarterly dividend on Friday, May 10th, RTT News reports. Shareholders of record on Wednesday, July 3rd will be paid a dividend of 0.13 per share by the basic materials company on Thursday, August 1st. This represents a $0.52 annualized dividend and a yield of 3.37%.
P H Glatfelter has increased its dividend payment by an average of 3.4% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. P H Glatfelter has a payout ratio of 63.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect P H Glatfelter to earn $1.04 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 50.0%.
NYSE:GLT traded down $0.21 during trading hours on Friday, hitting $15.43. The stock had a trading volume of 643 shares, compared to its average volume of 292,191. P H Glatfelter has a one year low of $9.28 and a one year high of $20.51. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.11 and a current ratio of 1.94. The company has a market capitalization of $689.07 million, a PE ratio of 73.38, a PEG ratio of 4.38 and a beta of 1.79.
In related news, VP Christopher W. Astley sold 7,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $15.11, for a total transaction of $105,770.00. Following the completion of the transaction, the vice president now owns 18,750 shares in the company, valued at $283,312.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.06% of the company’s stock.
GLT has been the subject of several research reports. ValuEngine downgraded shares of P H Glatfelter from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. BMO Capital Markets lowered their price objective on shares of P H Glatfelter from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, February 13th. Finally, Zacks Investment Research raised shares of P H Glatfelter from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. P H Glatfelter has a consensus rating of “Buy” and a consensus price target of $19.50.
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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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