Clearwater Paper Co. (NYSE:CLW – Get Free Report) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 988,200 shares, an increase of 16.0% from the November 30th total of 851,800 shares. Based on an average daily volume of 455,400 shares, the days-to-cover ratio is presently 2.2 days. Currently, 6.2% of the company’s stock are short sold.
Hedge Funds Weigh In On Clearwater Paper
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in Clearwater Paper by 45.2% in the 3rd quarter. Pacer Advisors Inc. now owns 1,887,015 shares of the basic materials company’s stock valued at $53,855,000 after purchasing an additional 587,043 shares during the last quarter. HighTower Advisors LLC increased its position in Clearwater Paper by 124.0% in the 3rd quarter. HighTower Advisors LLC now owns 12,400 shares of the basic materials company’s stock valued at $361,000 after acquiring an additional 6,865 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Clearwater Paper during the third quarter valued at approximately $877,000. Intech Investment Management LLC acquired a new stake in shares of Clearwater Paper in the third quarter valued at approximately $1,043,000. Finally, Victory Capital Management Inc. raised its position in Clearwater Paper by 63.9% in the 3rd quarter. Victory Capital Management Inc. now owns 50,240 shares of the basic materials company’s stock worth $1,434,000 after purchasing an additional 19,580 shares during the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.
Clearwater Paper Stock Performance
Shares of NYSE CLW opened at $29.77 on Wednesday. The business has a fifty day simple moving average of $27.16 and a 200 day simple moving average of $34.31. The firm has a market capitalization of $493.23 million, a price-to-earnings ratio of 34.62 and a beta of 0.33. Clearwater Paper has a one year low of $23.97 and a one year high of $57.13. The company has a current ratio of 1.78, a quick ratio of 1.13 and a debt-to-equity ratio of 1.72.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on CLW shares. StockNews.com cut shares of Clearwater Paper from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Clearwater Paper in a research report on Tuesday, November 5th.
Get Our Latest Analysis on CLW
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.
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