Fmr LLC Cuts Holdings in Clearwater Paper Co. (NYSE:CLW)

Fmr LLC cut its holdings in Clearwater Paper Co. (NYSE:CLW) by 95.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,590 shares of the basic materials company’s stock after selling 30,002 shares during the quarter. Fmr LLC’s holdings in Clearwater Paper were worth $45,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. lifted its position in shares of Clearwater Paper by 45.2% in the third quarter. Pacer Advisors Inc. now owns 1,887,015 shares of the basic materials company’s stock valued at $53,855,000 after acquiring an additional 587,043 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Clearwater Paper by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,408,298 shares of the basic materials company’s stock valued at $68,261,000 after purchasing an additional 10,074 shares in the last quarter. American Century Companies Inc. lifted its holdings in Clearwater Paper by 23.2% in the 2nd quarter. American Century Companies Inc. now owns 495,358 shares of the basic materials company’s stock valued at $24,010,000 after purchasing an additional 93,123 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Clearwater Paper by 39.1% during the 2nd quarter. Acadian Asset Management LLC now owns 218,505 shares of the basic materials company’s stock worth $10,586,000 after purchasing an additional 61,366 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Clearwater Paper by 35.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 148,051 shares of the basic materials company’s stock worth $7,176,000 after buying an additional 38,917 shares in the last quarter. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Clearwater Paper Stock Performance

Shares of Clearwater Paper stock opened at $32.66 on Thursday. The stock has a market cap of $541.11 million, a PE ratio of 37.98 and a beta of 0.33. Clearwater Paper Co. has a 12 month low of $23.97 and a 12 month high of $57.13. The company has a quick ratio of 1.13, a current ratio of 1.78 and a debt-to-equity ratio of 1.72. The business has a fifty day simple moving average of $26.98 and a 200-day simple moving average of $35.02.

Clearwater Paper declared that its board has authorized a share buyback program on Monday, November 4th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the basic materials company to buy up to 23.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors 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.