Clearwater Paper (NYSE:CLW – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.
Several other equities research analysts also recently weighed in on CLW. Royal Bank of Canada downgraded Clearwater Paper from an “outperform” rating to a “sector perform” rating and set a $45.00 price target on the stock. in a report on Tuesday, November 1st. BMO Capital Markets increased their price objective on Clearwater Paper from $47.00 to $52.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 1st.
Clearwater Paper Trading Up 1.9 %
Shares of NYSE CLW traded up $0.68 during midday trading on Thursday, hitting $35.92. The company’s stock had a trading volume of 94,259 shares, compared to its average volume of 83,945. The company has a current ratio of 1.93, a quick ratio of 0.82 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $38.01 and its two-hundred day moving average is $38.94. Clearwater Paper has a 12-month low of $25.07 and a 12-month high of $46.48. The firm has a market cap of $602.09 million, a P/E ratio of 9.98 and a beta of 0.89.
Clearwater Paper (NYSE:CLW – Get Rating) last issued its quarterly earnings results on Monday, October 31st. The basic materials company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.31. Clearwater Paper had a return on equity of 15.16% and a net margin of 3.01%. The firm had revenue of $538.80 million for the quarter, compared to the consensus estimate of $551.00 million. During the same period in the prior year, the business posted $0.55 earnings per share. As a group, equities research analysts expect that Clearwater Paper will post 4.44 EPS for the current year.
Insider Buying and Selling
In related news, VP Michael S. Gadd sold 8,500 shares of the stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $37.33, for a total value of $317,305.00. Following the transaction, the vice president now owns 61,366 shares of the company’s stock, valued at $2,290,792.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.77% of the stock is owned by insiders.
Institutional Trading of Clearwater Paper
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its position in Clearwater Paper by 29.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 165,201 shares of the basic materials company’s stock valued at $6,246,000 after acquiring an additional 38,019 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Clearwater Paper by 3.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 159,635 shares of the basic materials company’s stock valued at $6,002,000 after acquiring an additional 4,643 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in Clearwater Paper during the 3rd quarter valued at $157,000. BNP Paribas Arbitrage SNC boosted its position in Clearwater Paper by 36.0% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 10,172 shares of the basic materials company’s stock valued at $382,000 after acquiring an additional 2,693 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Clearwater Paper by 4.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 17,305 shares of the basic materials company’s stock valued at $651,000 after acquiring an additional 714 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.
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.