Bank of America Corp DE Increases Position in Clearwater Paper Corporation (CLW)

Bank of America Corp DE boosted its stake in Clearwater Paper Corporation (NYSE:CLW) by 198.1% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 51,412 shares of the basic materials company’s stock after buying an additional 34,163 shares during the period. Bank of America Corp DE owned approximately 0.31% of Clearwater Paper Corporation worth $2,879,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CLW. Victory Capital Management Inc. boosted its position in Clearwater Paper Corporation by 51.6% in the first quarter. Victory Capital Management Inc. now owns 2,159 shares of the basic materials company’s stock valued at $121,000 after buying an additional 735 shares during the period. ClariVest Asset Management LLC purchased a new position in Clearwater Paper Corporation during the first quarter valued at approximately $162,000. US Bancorp DE boosted its position in Clearwater Paper Corporation by 1.0% in the first quarter. US Bancorp DE now owns 3,714 shares of the basic materials company’s stock valued at $208,000 after buying an additional 35 shares during the period. Mason Street Advisors LLC boosted its position in Clearwater Paper Corporation by 5.4% in the first quarter. Mason Street Advisors LLC now owns 3,850 shares of the basic materials company’s stock valued at $216,000 after buying an additional 196 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Clearwater Paper Corporation by 5.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,473 shares of the basic materials company’s stock valued at $250,000 after buying an additional 220 shares during the period. Hedge funds and other institutional investors own 85.09% of the company’s stock.

Clearwater Paper Corporation (NYSE CLW) opened at 45.15 on Friday. The company has a market capitalization of $741.95 million, a PE ratio of 29.11 and a beta of 1.07. The stock has a 50 day moving average of $47.01 and a 200 day moving average of $50.72. Clearwater Paper Corporation has a 12-month low of $43.60 and a 12-month high of $68.40.

Clearwater Paper Corporation (NYSE:CLW) last issued its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.08. The firm had revenue of $429.70 million during the quarter, compared to analysts’ expectations of $439.33 million. Clearwater Paper Corporation had a net margin of 1.49% and a return on equity of 7.74%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.37 earnings per share. On average, equities research analysts predict that Clearwater Paper Corporation will post $2.64 EPS for the current year.

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Several research firms have commented on CLW. Vertical Research upgraded shares of Clearwater Paper Corporation from a “hold” rating to a “buy” rating in a research report on Monday, April 24th. BidaskClub cut shares of Clearwater Paper Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Zacks Investment Research upgraded shares of Clearwater Paper Corporation from a “strong sell” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Wednesday, June 21st. Finally, Royal Bank Of Canada decreased their price objective on shares of Clearwater Paper Corporation from $63.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $60.50.

In related news, insider Michael S. Gadd sold 877 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $50.01, for a total transaction of $43,858.77. Following the completion of the transaction, the insider now owns 19,010 shares in the company, valued at $950,690.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael S. Gadd sold 1,546 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $50.04, for a total transaction of $77,361.84. Following the transaction, the insider now owns 17,464 shares of the company’s stock, valued at approximately $873,898.56. The disclosure for this sale can be found here. 2.41% of the stock is currently owned by insiders.

Clearwater Paper Corporation Company Profile

Clearwater Paper Corporation manufactures consumer tissue, away-from-home (AFH) tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The Company operates through two segments: Consumer Products segment, and Pulp and Paperboard segment. The Company’s Consumer Products segment manufactures and sells a line of at-home tissue products, as well as AFH products.

Institutional Ownership by Quarter for Clearwater Paper Corporation (NYSE:CLW)

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