FMP
Nov 5, 2024 1:00 AM - Alex Lavoie
Image credit: Google Images
Glatfelter Corporation (NYSE:GLT) is a global supplier of engineered materials, specializing in nonwoven products and specialty papers. On November 4, 2024, GLT executed a reverse stock split at a 13-for-1 ratio. This strategic move aligns with Glatfelter's recent merger with Berry Global Group Inc.'s Health, Hygiene, and Specialties Global Nonwovens and Films business, forming Magnera, the largest nonwovens company worldwide.
The merger with Berry Global's division has been a significant milestone for Glatfelter. The newly formed entity, Magnera, will begin trading on the New York Stock Exchange under the ticker "MAGN" on November 5, 2024. This transition is a crucial step in Glatfelter's strategic plans, as highlighted by the company's third-quarter results announcement.
Glatfelter's shareholders have approved all necessary proposals related to the merger during a Special Meeting. These proposals included share issuance, charter amendments, an omnibus plan, and an advisory compensation proposal. The merger is expected to be finalized on November 4, 2024, pending the fulfillment or waiver of closing conditions.
Currently, GLT's stock price is $21.05, reflecting a decrease of 6.94% with a change of $1.57. The stock has traded between $20.07 and $22.80 today, with a 52-week high of $35.23 and a low of $15.80. Glatfelter's market capitalization is approximately $957.7 million, with a trading volume of 339,306 shares on the NYSE.
May 14, 2024 11:41 AM - Sanzhi Kobzhan
A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...
May 24, 2024 9:30 AM - Rajnish Katharotiya
Earnings call transcripts are invaluable resources for investors, analysts, and financial enthusiasts. They provide insights into a company's performance, strategy, and future outlook, making them essential for making informed investment decisions. With Financial Modeling Prep, Earnings Call Transcr...
May 27, 2024 3:30 PM - Rajnish Katharotiya
In the ever-evolving world of technology, certain sectors have consistently demonstrated exceptional growth and innovation. The graphics processing units (GPUs) industry is one such sector, offering investors a golden opportunity for potentially high returns. In this blog, we'll delve into why inves...