Clearwater Paper (NYSE:CLW) Shares Gap Down to $40.94

Clearwater Paper Co. (NYSE:CLWGet Rating) gapped down prior to trading on Wednesday . The stock had previously closed at $40.94, but opened at $40.01. Clearwater Paper shares last traded at $40.01, with a volume of 1 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CLW. TheStreet raised shares of Clearwater Paper from a “c” rating to a “b” rating in a research note on Wednesday, August 3rd. Royal Bank of Canada raised shares of Clearwater Paper from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $40.00 to $45.00 in a research report on Wednesday, August 3rd. Finally, BMO Capital Markets boosted their price objective on shares of Clearwater Paper from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th.

Clearwater Paper Trading Down 1.3 %

The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.90 and a current ratio of 1.86. The stock’s 50-day simple moving average is $40.33 and its 200-day simple moving average is $34.16. The firm has a market capitalization of $670.98 million, a PE ratio of 16.03 and a beta of 0.87.

Clearwater Paper (NYSE:CLWGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.11. Clearwater Paper had a net margin of 2.19% and a return on equity of 11.51%. During the same quarter in the prior year, the company posted ($1.07) EPS. As a group, sell-side analysts expect that Clearwater Paper Co. will post 4.1 EPS for the current fiscal year.

Insider Transactions at Clearwater Paper

In other news, VP Michael S. Gadd sold 8,691 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $42.02, for a total value of $365,195.82. Following the sale, the vice president now directly owns 69,866 shares of the company’s stock, valued at approximately $2,935,769.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.77% of the company’s stock.

Institutional Trading of Clearwater Paper

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in shares of Clearwater Paper by 0.3% in the 1st quarter. BlackRock Inc. now owns 2,717,282 shares of the basic materials company’s stock worth $76,165,000 after buying an additional 6,953 shares during the period. Vanguard Group Inc. boosted its stake in Clearwater Paper by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 1,189,845 shares of the basic materials company’s stock worth $33,351,000 after purchasing an additional 20,592 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Clearwater Paper by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,174,967 shares of the basic materials company’s stock worth $32,935,000 after purchasing an additional 9,524 shares in the last quarter. State Street Corp boosted its stake in Clearwater Paper by 1.2% in the 2nd quarter. State Street Corp now owns 598,810 shares of the basic materials company’s stock worth $20,138,000 after purchasing an additional 6,962 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Clearwater Paper by 86.4% in the 2nd quarter. Millennium Management LLC now owns 398,762 shares of the basic materials company’s stock worth $13,410,000 after purchasing an additional 184,832 shares in the last quarter. 87.82% of the stock is owned by hedge funds and other institutional investors.

About Clearwater Paper

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Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through two segments, Pulp and Paperboard, and Consumer Products. The Pulp and Paperboard segment offers folding cartons, liquid packaging, cups and plates, blister and carded packaging products, top sheet and commercial printing items, and softwood pulp products, as well as custom sheeting, slitting, and cutting of paperboard products.

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