Cinctive Capital Management LP Makes New Investment in Clearwater Paper Co. (NYSE:CLW)

Cinctive Capital Management LP purchased a new position in Clearwater Paper Co. (NYSE:CLW) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 28,560 shares of the basic materials company’s stock, valued at approximately $815,000. Cinctive Capital Management LP owned approximately 0.17% of Clearwater Paper at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Pacer Advisors Inc. grew its position in shares of Clearwater Paper by 45.2% in the 3rd quarter. Pacer Advisors Inc. now owns 1,887,015 shares of the basic materials company’s stock valued at $53,855,000 after purchasing an additional 587,043 shares during the period. American Century Companies Inc. boosted its holdings in shares of Clearwater Paper by 23.2% in the second quarter. American Century Companies Inc. now owns 495,358 shares of the basic materials company’s stock valued at $24,010,000 after buying an additional 93,123 shares during the period. Acadian Asset Management LLC increased its position in shares of Clearwater Paper by 39.1% during the second quarter. Acadian Asset Management LLC now owns 218,505 shares of the basic materials company’s stock worth $10,586,000 after acquiring an additional 61,366 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Clearwater Paper by 24.3% during the second quarter. Assenagon Asset Management S.A. now owns 219,983 shares of the basic materials company’s stock worth $10,663,000 after acquiring an additional 42,935 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Clearwater Paper by 35.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 148,051 shares of the basic materials company’s stock valued at $7,176,000 after acquiring an additional 38,917 shares in the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CLW shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $37.00 price target on shares of Clearwater Paper in a research report on Tuesday, November 5th. StockNews.com downgraded shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th.

Clearwater Paper Stock Performance

NYSE CLW opened at $26.94 on Wednesday. The stock has a market cap of $446.40 million, a PE ratio of 31.33 and a beta of 0.33. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.13 and a current ratio of 1.78. The firm has a 50-day moving average of $27.11 and a 200-day moving average of $37.84. Clearwater Paper Co. has a 52-week low of $24.17 and a 52-week high of $57.13.

Clearwater Paper declared that its board has approved a stock repurchase plan on Monday, November 4th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 23.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Clearwater Paper Company Profile

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.