California Public Employees Retirement System cut its position in Clearwater Paper Corp (NYSE:CLW) by 5.2% in the 1st quarter, Holdings Channel reports. The firm owned 105,460 shares of the basic materials company’s stock after selling 5,733 shares during the period. California Public Employees Retirement System’s holdings in Clearwater Paper were worth $4,123,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Elkfork Partners LLC bought a new position in Clearwater Paper in the fourth quarter valued at about $113,000. Teacher Retirement System of Texas acquired a new stake in shares of Clearwater Paper in the fourth quarter valued at about $256,000. MetLife Investment Advisors LLC acquired a new stake in shares of Clearwater Paper in the fourth quarter valued at about $356,000. Jefferies Group LLC increased its stake in shares of Clearwater Paper by 62.0% in the fourth quarter. Jefferies Group LLC now owns 8,419 shares of the basic materials company’s stock valued at $382,000 after buying an additional 3,223 shares during the period. Finally, BlueCrest Capital Management Ltd acquired a new stake in shares of Clearwater Paper in the fourth quarter valued at about $547,000. Hedge funds and other institutional investors own 89.15% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Clearwater Paper from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Royal Bank of Canada raised Clearwater Paper from a “sector perform” rating to an “outperform” rating and decreased their price target for the company from $35.00 to $30.00 in a research note on Thursday, May 3rd. ValuEngine cut Clearwater Paper from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Finally, Sidoti cut Clearwater Paper from a “buy” rating to a “neutral” rating and set a $32.00 price target for the company. in a research note on Friday, April 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Clearwater Paper has an average rating of “Hold” and a consensus target price of $34.67.
Shares of CLW stock opened at $23.10 on Friday. The stock has a market capitalization of $380.77 million, a PE ratio of 9.96, a P/E/G ratio of 2.41 and a beta of 1.05. The company has a quick ratio of 0.42, a current ratio of 1.03 and a debt-to-equity ratio of 0.98. Clearwater Paper Corp has a 1-year low of $22.48 and a 1-year high of $50.60.
Clearwater Paper (NYSE:CLW) last issued its quarterly earnings results on Thursday, April 19th. The basic materials company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.31). The company had revenue of $436.95 million during the quarter, compared to analyst estimates of $426.18 million. Clearwater Paper had a net margin of 5.34% and a return on equity of 5.54%. During the same period in the previous year, the company posted $0.64 EPS. research analysts predict that Clearwater Paper Corp will post 1.93 earnings per share for the current year.
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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