Charles Schwab Investment Management Inc. Has $7.14 Million Stock Position in Clearwater Paper Co. (NYSE:CLW)

Charles Schwab Investment Management Inc. cut its holdings in shares of Clearwater Paper Co. (NYSE:CLW) by 25.3% in the third quarter, HoldingsChannel reports. The fund owned 250,042 shares of the basic materials company’s stock after selling 84,678 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Clearwater Paper were worth $7,136,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in Clearwater Paper during the second quarter valued at $52,000. nVerses Capital LLC purchased a new stake in shares of Clearwater Paper during the 3rd quarter worth about $74,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Clearwater Paper during the 2nd quarter valued at about $153,000. Caxton Associates LP bought a new stake in shares of Clearwater Paper in the 2nd quarter valued at approximately $200,000. Finally, Arizona State Retirement System bought a new stake in shares of Clearwater Paper in the 2nd quarter valued at approximately $225,000. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Analyst Upgrades and Downgrades

CLW has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 target price on shares of Clearwater Paper in a research note on Tuesday, November 5th. StockNews.com lowered shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th.

Clearwater Paper Stock Performance

Shares of NYSE CLW opened at $25.87 on Thursday. The business’s 50-day simple moving average is $26.90 and its 200-day simple moving average is $36.73. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.13 and a current ratio of 1.78. Clearwater Paper Co. has a 52 week low of $24.17 and a 52 week high of $57.13. The firm has a market cap of $428.61 million, a price-to-earnings ratio of 30.08 and a beta of 0.33.

Clearwater Paper declared that its Board of Directors has approved a stock repurchase plan on Monday, November 4th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire up to 23.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Clearwater Paper 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.