Wedge Capital Management L L P NC lessened its stake in Clearwater Paper Co. (NYSE:CLW – Get Rating) by 8.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 167,462 shares of the basic materials company’s stock after selling 15,658 shares during the period. Wedge Capital Management L L P NC’s holdings in Clearwater Paper were worth $5,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. acquired a new stake in shares of Clearwater Paper in the 4th quarter valued at about $279,000. Koshinski Asset Management Inc. acquired a new stake in shares of Clearwater Paper in the first quarter valued at approximately $48,000. Strs Ohio grew its position in shares of Clearwater Paper by 192.8% during the first quarter. Strs Ohio now owns 20,200 shares of the basic materials company’s stock worth $566,000 after acquiring an additional 13,300 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of Clearwater Paper by 533.9% in the 1st quarter. Miracle Mile Advisors LLC now owns 37,400 shares of the basic materials company’s stock valued at $1,048,000 after acquiring an additional 31,500 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Clearwater Paper in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 87.82% of the company’s stock.
Wall Street Analyst Weigh In
CLW has been the topic of a number of recent research reports. BMO Capital Markets lifted their price objective on shares of Clearwater Paper from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, August 4th. TheStreet upgraded Clearwater Paper from a “c” rating to a “b” rating in a research report on Wednesday, August 3rd. Finally, Royal Bank of Canada raised Clearwater Paper from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $40.00 to $45.00 in a research report on Wednesday, August 3rd.
Insider Transactions at Clearwater Paper
Clearwater Paper Stock Down 0.4 %
CLW stock opened at $40.55 on Wednesday. The stock has a market capitalization of $678.81 million, a PE ratio of 16.22 and a beta of 0.87. The company has a fifty day moving average of $40.73 and a 200-day moving average of $34.44. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.90 and a current ratio of 1.86. Clearwater Paper Co. has a one year low of $25.07 and a one year high of $46.48.
Clearwater Paper (NYSE:CLW – Get Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.11. Clearwater Paper had a net margin of 2.19% and a return on equity of 11.51%. During the same quarter in the previous year, the company earned ($1.07) earnings per share. As a group, analysts expect that Clearwater Paper Co. will post 4.1 EPS for the current year.
About Clearwater Paper
Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through two segments, Pulp and Paperboard, and Consumer Products. The Pulp and Paperboard segment offers folding cartons, liquid packaging, cups and plates, blister and carded packaging products, top sheet and commercial printing items, and softwood pulp products, as well as custom sheeting, slitting, and cutting of paperboard products.
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