Clearwater Paper Corporation (NYSE:CLW) Sees Significant Decrease in Short Interest

Clearwater Paper Corporation (NYSE:CLW) was the recipient of a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 546,309 shares, a decline of 17.9% from the January 29th total of 665,680 shares. Based on an average trading volume of 254,518 shares, the short-interest ratio is presently 2.1 days. Approximately 3.5% of the shares of the company are sold short. Approximately 3.5% of the shares of the company are sold short. Based on an average trading volume of 254,518 shares, the short-interest ratio is presently 2.1 days.

Institutional Investors Weigh In On Clearwater Paper

Several hedge funds have recently modified their holdings of the stock. Readystate Asset Management LP increased its stake in Clearwater Paper by 19.2% in the 3rd quarter. Readystate Asset Management LP now owns 762,138 shares of the basic materials company’s stock valued at $15,822,000 after buying an additional 122,688 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Clearwater Paper by 33.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 557,953 shares of the basic materials company’s stock worth $9,708,000 after acquiring an additional 139,013 shares during the period. Towle & Co. boosted its holdings in shares of Clearwater Paper by 12.4% in the third quarter. Towle & Co. now owns 366,798 shares of the basic materials company’s stock valued at $7,615,000 after acquiring an additional 40,575 shares in the last quarter. Millennium Management LLC increased its stake in shares of Clearwater Paper by 158.1% during the fourth quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company’s stock worth $6,278,000 after acquiring an additional 221,029 shares during the period. Finally, Invenomic Capital Management LP raised its position in Clearwater Paper by 113.0% in the fourth quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company’s stock worth $5,572,000 after acquiring an additional 169,880 shares in the last quarter. 89.98% of the stock is owned by institutional investors and hedge funds.

Clearwater Paper Stock Performance

Shares of NYSE CLW traded down $0.39 during midday trading on Tuesday, reaching $14.65. 220,558 shares of the company were exchanged, compared to its average volume of 285,877. The stock has a market cap of $234.99 million, a P/E ratio of -13.08 and a beta of 0.23. Clearwater Paper has a 1 year low of $13.84 and a 1 year high of $30.96. The stock has a fifty day simple moving average of $17.56 and a 200 day simple moving average of $18.84. The company has a current ratio of 2.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.42.

Clearwater Paper (NYSE:CLW) last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.08. Clearwater Paper had a negative return on equity of 2.11% and a negative net margin of 1.20%.The firm had revenue of $386.40 million during the quarter, compared to the consensus estimate of $379.00 million.

Analysts Set New Price Targets

Several equities analysts have issued reports on CLW shares. Royal Bank Of Canada dropped their price objective on Clearwater Paper from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Weiss Ratings restated a “sell (d+)” rating on shares of Clearwater Paper in a research note on Monday, December 29th. TD Securities cut their price target on Clearwater Paper from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. Finally, Truist Financial decreased their price objective on Clearwater Paper from $21.00 to $16.00 and set a “hold” rating for the company in a report on Thursday, February 19th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.25.

Clearwater Paper Company Profile

Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.

The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.