Wedge Capital Management L L P NC reduced its stake in shares of Clearwater Paper Corp (NYSE:CLW) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 322,125 shares of the basic materials company’s stock after selling 6,009 shares during the quarter. Wedge Capital Management L L P NC owned about 1.95% of Clearwater Paper worth $6,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. State of Tennessee Treasury Department increased its position in shares of Clearwater Paper by 8.5% during the third quarter. State of Tennessee Treasury Department now owns 7,426 shares of the basic materials company’s stock worth $157,000 after purchasing an additional 584 shares in the last quarter. Rhumbline Advisers increased its position in shares of Clearwater Paper by 6.7% during the third quarter. Rhumbline Advisers now owns 53,874 shares of the basic materials company’s stock worth $1,138,000 after purchasing an additional 3,362 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Clearwater Paper by 125.8% during the third quarter. State of Alaska Department of Revenue now owns 12,690 shares of the basic materials company’s stock worth $268,000 after purchasing an additional 7,069 shares in the last quarter. Parallax Volatility Advisers L.P. purchased a new stake in shares of Clearwater Paper during the second quarter worth approximately $124,000. Finally, United Services Automobile Association purchased a new stake in shares of Clearwater Paper during the second quarter worth approximately $200,000. 83.78% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:CLW opened at $20.60 on Friday. The company has a quick ratio of 0.62, a current ratio of 1.57 and a debt-to-equity ratio of 2.20. The business has a fifty day moving average of $18.72 and a two-hundred day moving average of $18.08. The stock has a market cap of $330.63 million, a P/E ratio of 8.08 and a beta of 1.94. Clearwater Paper Corp has a 52-week low of $13.87 and a 52-week high of $35.27.
Clearwater Paper (NYSE:CLW) last issued its earnings results on Thursday, October 24th. The basic materials company reported ($0.50) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.18). The company had revenue of $445.19 million during the quarter, compared to analysts’ expectations of $450.00 million. Clearwater Paper had a negative net margin of 11.13% and a positive return on equity of 0.51%. During the same quarter in the previous year, the company earned $1.35 earnings per share. On average, equities analysts anticipate that Clearwater Paper Corp will post -0.38 earnings per share for the current year.
Several brokerages recently commented on CLW. Royal Bank of Canada cut Clearwater Paper from a “sector perform” rating to an “underperform” rating and dropped their price target for the stock from $20.00 to $15.00 in a research report on Thursday, August 1st. KeyCorp reiterated a “hold” rating on shares of Clearwater Paper in a research report on Thursday, October 24th. Zacks Investment Research cut Clearwater Paper from a “hold” rating to a “strong sell” rating in a research report on Monday, October 28th. Finally, ValuEngine upgraded Clearwater Paper from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Clearwater Paper has an average rating of “Hold” and a consensus target price of $30.33.
About Clearwater Paper
Clearwater Paper Corporation produces and sells produces and sells private label tissue and bleached paperboard products in the United States and internationally. It operates in two segments, Consumer Products, and Pulp and Paperboard. The Consumer Products segment manufactures and sells a line of at-home tissue products, including bathroom tissues, paper towels, facial tissues, and napkins; recycled fiber value grade products; and away-from-home products, such as conventional one- and two-ply bath tissues, two-ply paper towels, hard wound towels, and dispenser napkins.
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