Ameriprise Financial Inc. decreased its stake in Clearwater Paper Corp. (NYSE:CLW) by 34.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,214 shares of the company’s stock after selling 85,893 shares during the period. Ameriprise Financial Inc. owned approximately 0.94% of Clearwater Paper Corp. worth $10,474,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Clearwater Paper Corp. during the fourth quarter valued at $8,247,000. Magnetar Financial LLC bought a new position in Clearwater Paper Corp. during the first quarter valued at $444,000. First Quadrant L P CA bought a new position in Clearwater Paper Corp. during the second quarter valued at $896,000. UBS Group AG increased its position in Clearwater Paper Corp. by 32.6% in the first quarter. UBS Group AG now owns 38,625 shares of the company’s stock valued at $1,874,000 after buying an additional 9,506 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in Clearwater Paper Corp. by 94.4% in the second quarter. BNP Paribas Arbitrage SA now owns 5,933 shares of the company’s stock valued at $388,000 after buying an additional 2,881 shares during the period. Hedge funds and other institutional investors own 86.42% of the company’s stock.
Shares of Clearwater Paper Corp. (NYSE:CLW) traded up 1.79% during mid-day trading on Friday, hitting $64.67. 101,366 shares of the stock were exchanged. The stock has a market cap of $1.10 billion, a PE ratio of 15.60 and a beta of 0.73. The company has a 50-day moving average of $62.04 and a 200 day moving average of $59.69. Clearwater Paper Corp. has a one year low of $32.00 and a one year high of $69.75.
Clearwater Paper Corp. (NYSE:CLW) last announced its earnings results on Thursday, July 21st. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.22. The business earned $436.70 million during the quarter, compared to the consensus estimate of $437.09 million. Clearwater Paper Corp. had a net margin of 4.23% and a return on equity of 16.79%. On average, equities analysts predict that Clearwater Paper Corp. will post $3.78 earnings per share for the current year.
Several research analysts recently weighed in on CLW shares. Zacks Investment Research downgraded shares of Clearwater Paper Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Sidoti began coverage on shares of Clearwater Paper Corp. in a report on Wednesday, June 22nd. They issued a “buy” rating and a $80.00 price objective for the company. Macquarie reiterated an “outperform” rating and issued a $75.00 price objective (up previously from $66.00) on shares of Clearwater Paper Corp. in a report on Wednesday, June 8th. Vertical Research downgraded shares of Clearwater Paper Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $60.00 price objective (up previously from $56.00) on shares of Clearwater Paper Corp. in a report on Sunday, July 24th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Clearwater Paper Corp. presently has a consensus rating of “Hold” and a consensus price target of $68.17.
In other Clearwater Paper Corp. news, insider John Hertz sold 4,725 shares of the stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $62.52, for a total transaction of $295,407.00. Following the transaction, the insider now directly owns 30,972 shares in the company, valued at approximately $1,936,369.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.
About Clearwater Paper Corp.
Clearwater Paper Corporation manufactures quality consumer tissue, away-from-home (AFH), tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The Company is a supplier of private label tissue to retailers and wholesale distributors, including grocery, drug, mass merchants and discount stores.
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