I've covered similar issues to Wez's answer from a MacPorts perspective; I'll go ahead and assume you can't use that either.
The latest stable version at this time is 2.4.6. Typical best practice is to make a directory, e.g., build in the top level of the source. Add the prefix: g, with --program-prefix=g, the top level installation directory --prefix=PREFIX, or specify more fine-grained installation directories options for bin, include, lib, and share directories.
> mkdir build
> cd build
> ../configure --prefix=/my/install/path --program-prefix=g
> make; make install
You now have glibtool and glibtoolize in $PREFIX/bin.