Clearwater Paper Co. (NYSE:CLW) Holdings Lowered by Comerica Bank

Comerica Bank trimmed its stake in shares of Clearwater Paper Co. (NYSE:CLW – Get Rating) by 16.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,078 shares of the basic materials company’s stock after selling 10,127 shares during the period. Comerica Bank owned about 0.31% of Clearwater Paper worth $2,194,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. US Bancorp DE lifted its holdings in shares of Clearwater Paper by 103.2% during the first quarter. US Bancorp DE now owns 1,213 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 616 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Clearwater Paper by 35.0% during the first quarter. Captrust Financial Advisors now owns 1,877 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 487 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Clearwater Paper by 18.0% during the second quarter. Mutual of America Capital Management LLC now owns 2,836 shares of the basic materials company’s stock valued at $95,000 after purchasing an additional 432 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Clearwater Paper by 245.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,591 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 2,550 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Clearwater Paper in the 1st quarter worth about $114,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

Clearwater Paper Stock Up 0.9 %

CLW opened at $35.63 on Friday. Clearwater Paper Co. has a fifty-two week low of $25.07 and a fifty-two week high of $46.48. The business has a 50-day moving average of $37.75 and a 200-day moving average of $39.01. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.93 and a quick ratio of 0.82. The company has a market capitalization of $597.23 million, a PE ratio of 9.90 and a beta of 0.89.

Clearwater Paper (NYSE:CLW – Get Rating) last posted its quarterly earnings results on Monday, October 31st. The basic materials company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.31. Clearwater Paper had a return on equity of 15.16% and a net margin of 3.01%. The company had revenue of $538.80 million during the quarter, compared to the consensus estimate of $551.00 million. During the same period last year, the business earned $0.55 EPS. Equities research analysts forecast that Clearwater Paper Co. will post 4.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CLW shares. StockNews.com downgraded Clearwater Paper from a “buy” rating to a “hold” rating in a research note on Thursday, January 12th. Royal Bank of Canada downgraded Clearwater Paper from an “outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a research note on Tuesday, November 1st. Finally, BMO Capital Markets increased their price objective on Clearwater Paper from $47.00 to $52.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 1st.

Insider Transactions at Clearwater Paper

In other news, VP Michael S. Gadd sold 8,500 shares of the firm’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $37.33, for a total transaction of $317,305.00. Following the completion of the sale, the vice president now directly owns 61,366 shares of the company’s stock, valued at approximately $2,290,792.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.77% of the company’s stock.

Clearwater Paper Company Profile

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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.