Pictet Asset Management Ltd. raised its holdings in shares of Clearwater Paper Corp (NYSE:CLW) by 61.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 441,395 shares of the basic materials company’s stock after purchasing an additional 167,854 shares during the period. Pictet Asset Management Ltd.’s holdings in Clearwater Paper were worth $9,322,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. State of Tennessee Treasury Department grew its position in shares of Clearwater Paper by 8.5% during the third quarter. State of Tennessee Treasury Department now owns 7,426 shares of the basic materials company’s stock worth $157,000 after acquiring an additional 584 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Clearwater Paper by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 222,619 shares of the basic materials company’s stock worth $4,117,000 after acquiring an additional 1,517 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of Clearwater Paper during the second quarter worth about $38,000. Rhumbline Advisers grew its position in shares of Clearwater Paper by 6.7% during the third quarter. Rhumbline Advisers now owns 53,874 shares of the basic materials company’s stock worth $1,138,000 after acquiring an additional 3,362 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Clearwater Paper by 2.7% during the second quarter. Northern Trust Corp now owns 214,749 shares of the basic materials company’s stock worth $3,971,000 after acquiring an additional 5,619 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.
CLW has been the subject of several recent research reports. Zacks Investment Research lowered shares of Clearwater Paper from a “hold” rating to a “strong sell” rating in a research report on Monday, October 28th. ValuEngine upgraded shares of Clearwater Paper from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, KeyCorp reiterated a “hold” rating on shares of Clearwater Paper in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $30.33.
Shares of CLW opened at $21.54 on Tuesday. The firm has a 50-day moving average price of $19.75 and a 200 day moving average price of $18.34. The firm has a market capitalization of $361.53 million, a PE ratio of 156.36 and a beta of 1.99. The company has a quick ratio of 0.62, a current ratio of 1.57 and a debt-to-equity ratio of 2.20. Clearwater Paper Corp has a 52-week low of $13.87 and a 52-week high of $35.27.
Clearwater Paper (NYSE:CLW) last announced its earnings results on Thursday, October 24th. The basic materials company reported ($0.50) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.18). The company had revenue of $445.19 million during the quarter, compared to the consensus estimate of $450.00 million. Clearwater Paper had a negative net margin of 11.13% and a positive return on equity of 0.51%. During the same quarter in the prior year, the company earned $1.35 EPS. On average, equities analysts expect that Clearwater Paper Corp will post -0.38 EPS for the current year.
In related news, insider Harrison David bought 4,483 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average price of $5.74 per share, for a total transaction of $25,714.49. Corporate insiders own 3.97% of the company’s stock.
Clearwater Paper Profile
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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