Today, I purchased P.H. Glatfelter (GLT) for the Long-Term Portfolio at 15.95. When I first mentioned the company a few months back it was trading at just under $15. I was preparing to buy, but the stock ran away a bit... it hit a recent high around $18 and has since pulled back some. So, I used this opportunity to get in.
At current prices, the shares yield just about 2 1/4%. Also, look for their margins to improve as the company begins to realize the benefits of its recent acquisitions. Last year, the company purchased of NewPage Corp., a carbonless paper company, and J.R. Crompton's Lydney Mill. The Lydney Mill produces non-woven products. These would include products like coffee filters and teabag papers.
2 comments:
i blame you for everything bad that happened today.
The people of the world should thank me for giving them such a great buying opportunity. Hehe.
Seriously though, it's just my luck to finally take a stab and buy something this morning.
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