Clearwater Paper (NYSE:CLW) Sets New 12-Month High Following Strong Earnings

Shares of Clearwater Paper Co. (NYSE:CLW) reached a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $47.98 and last traded at $47.28, with a volume of 115387 shares changing hands. The stock had previously closed at $40.69.

The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.32. The business had revenue of $496.20 million during the quarter. Clearwater Paper had a net margin of 4.92% and a return on equity of 17.63%. During the same period last year, the firm posted $1.47 earnings per share.

Analyst Ratings Changes

CLW has been the topic of several research reports. StockNews.com lowered Clearwater Paper from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 22nd. Royal Bank of Canada lifted their price target on Clearwater Paper from $41.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Tuesday.

Hedge Funds Weigh In On Clearwater Paper

Large investors have recently modified their holdings of the business. GAMMA Investing LLC acquired a new position in shares of Clearwater Paper during the 4th quarter worth $29,000. Algert Global LLC acquired a new position in Clearwater Paper during the third quarter worth about $210,000. Diversified Trust Co purchased a new position in Clearwater Paper in the first quarter valued at about $213,000. Quadrature Capital Ltd acquired a new stake in shares of Clearwater Paper during the 3rd quarter valued at approximately $267,000. Finally, Jump Financial LLC purchased a new stake in shares of Clearwater Paper during the 3rd quarter worth approximately $294,000. 89.98% of the stock is owned by hedge funds and other institutional investors.

Clearwater Paper Trading Down 1.2 %

The firm has a market cap of $736.59 million, a price-to-earnings ratio of 7.44 and a beta of 0.52. The business has a fifty day moving average of $40.66 and a two-hundred day moving average of $37.11. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.97.

Clearwater Paper Company Profile

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through Pulp and Paperboard, and Consumer Products segments. The Pulp and Paperboard segment manufactures and markets bleached paperboard; Solid Bleached Sulfate paperboard that is used to produce folding cartons, liquid packaging, cups and plates, blister and carded packaging, and top sheet and commercial printing items; and hardwood and softwood pulp, as well as offers services that include custom sheeting, slitting, and cutting.