Clearwater Paper Sees Unusually High Options Volume (NYSE:CLW)

Clearwater Paper Corp (NYSE:CLW) saw some unusual options trading on Monday. Stock investors acquired 1,549 call options on the stock. This represents an increase of 1,006% compared to the typical volume of 140 call options.

Shares of NYSE CLW opened at $18.87 on Tuesday. Clearwater Paper has a 52-week low of $13.87 and a 52-week high of $35.27. The firm has a fifty day moving average of $18.23 and a 200-day moving average of $18.11. The stock has a market capitalization of $315.67 million, a PE ratio of 7.40 and a beta of 1.98. The company has a quick ratio of 0.43, a current ratio of 0.95 and a debt-to-equity ratio of 1.71.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported ($0.50) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.18). Clearwater Paper had a negative net margin of 11.13% and a positive return on equity of 0.51%. The company had revenue of $445.19 million for the quarter, compared to analysts’ expectations of $450.00 million. During the same period in the prior year, the firm earned $1.35 earnings per share. Equities research analysts expect that Clearwater Paper will post -0.2 EPS for the current fiscal year.

Several research analysts have weighed in on the company. Zacks Investment Research downgraded Clearwater Paper from a “hold” rating to a “strong sell” rating in a report on Monday. Royal Bank of Canada downgraded Clearwater Paper from a “sector perform” rating to an “underperform” rating and cut their price target for the company from $20.00 to $15.00 in a report on Thursday, August 1st. ValuEngine upgraded Clearwater Paper from a “sell” rating to a “hold” rating in a report on Thursday, September 19th. Finally, KeyCorp reissued a “hold” rating on shares of Clearwater Paper in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Clearwater Paper presently has an average rating of “Hold” and an average target price of $30.33.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Clearwater Paper by 1.0% during the 2nd quarter. BlackRock Inc. now owns 2,488,754 shares of the basic materials company’s stock valued at $46,019,000 after buying an additional 23,765 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Clearwater Paper by 4.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 366,852 shares of the basic materials company’s stock valued at $6,784,000 after buying an additional 14,560 shares during the period. Pictet Asset Management Ltd. grew its stake in shares of Clearwater Paper by 4.6% during the 2nd quarter. Pictet Asset Management Ltd. now owns 273,541 shares of the basic materials company’s stock valued at $5,058,000 after buying an additional 12,036 shares during the period. Prudential Financial Inc. grew its stake in shares of Clearwater Paper by 8.2% during the 2nd quarter. Prudential Financial Inc. now owns 269,907 shares of the basic materials company’s stock valued at $4,991,000 after buying an additional 20,500 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Clearwater Paper by 10.1% during the 2nd quarter. Invesco Ltd. now owns 236,027 shares of the basic materials company’s stock valued at $4,364,000 after buying an additional 21,683 shares during the period. 83.91% of the stock is owned by institutional investors.

About Clearwater Paper

Clearwater Paper Corporation produces and sells produces and sells private label tissue and bleached paperboard products in the United States and internationally. It operates in two segments, Consumer Products, and Pulp and Paperboard. The Consumer Products segment manufactures and sells a line of at-home tissue products, including bathroom tissues, paper towels, facial tissues, and napkins; recycled fiber value grade products; and away-from-home products, such as conventional one- and two-ply bath tissues, two-ply paper towels, hard wound towels, and dispenser napkins.

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