Clearwater Paper (NYSE:CLW) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Clearwater Paper (NYSE:CLW) from a hold rating to a sell rating in a report published on Wednesday.

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $37.00 target price on shares of Clearwater Paper in a research note on Tuesday.

Clearwater Paper Trading Up 0.1 %

CLW stock traded up $0.02 during mid-day trading on Wednesday, reaching $29.06. 18,166 shares of the stock traded hands, compared to its average volume of 244,146. Clearwater Paper has a one year low of $24.51 and a one year high of $57.13. The stock has a market capitalization of $483.27 million, a PE ratio of 33.77 and a beta of 0.34. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.74 and a current ratio of 1.73. The business has a 50-day moving average price of $28.54 and a two-hundred day moving average price of $40.29.

Clearwater Paper (NYSE:CLW) last issued its quarterly earnings results on Tuesday, August 6th. The basic materials company reported ($0.42) EPS for the quarter. The firm had revenue of $586.40 million for the quarter. Clearwater Paper had a net margin of 0.74% and a return on equity of 4.34%.

Clearwater Paper announced that its Board of Directors has initiated a share buyback plan on Monday, November 4th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the basic materials company to purchase up to 23.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Clearwater Paper

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLW. Dimensional Fund Advisors LP grew its stake in Clearwater Paper by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,408,298 shares of the basic materials company’s stock worth $68,261,000 after acquiring an additional 10,074 shares in the last quarter. Pacer Advisors Inc. grew its stake in Clearwater Paper by 26.2% in the second quarter. Pacer Advisors Inc. now owns 1,299,972 shares of the basic materials company’s stock worth $63,010,000 after purchasing an additional 269,937 shares in the last quarter. Vanguard Group Inc. increased its holdings in Clearwater Paper by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,218,874 shares of the basic materials company’s stock worth $53,301,000 after purchasing an additional 17,166 shares during the period. American Century Companies Inc. raised its position in Clearwater Paper by 23.2% during the 2nd quarter. American Century Companies Inc. now owns 495,358 shares of the basic materials company’s stock valued at $24,010,000 after purchasing an additional 93,123 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Clearwater Paper by 24.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 219,983 shares of the basic materials company’s stock worth $10,663,000 after buying an additional 42,935 shares during the period. Institutional investors own 89.98% 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 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.