Bank of New York Mellon Corp Sells 2,183 Shares of Clearwater Paper Corporation (NYSE:CLW)

Bank of New York Mellon Corp reduced its stake in Clearwater Paper Corporation (NYSE:CLW) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,795 shares of the basic materials company’s stock after selling 2,183 shares during the period. Bank of New York Mellon Corp owned 0.33% of Clearwater Paper worth $1,339,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Elite Financial Inc. purchased a new position in Clearwater Paper during the 1st quarter valued at about $74,000. GAMMA Investing LLC lifted its position in Clearwater Paper by 2,384.8% during the 1st quarter. GAMMA Investing LLC now owns 3,603 shares of the basic materials company’s stock valued at $91,000 after acquiring an additional 3,458 shares during the period. Harbor Capital Advisors Inc. lifted its position in Clearwater Paper by 5,906.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 4,985 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 4,902 shares during the period. FNY Investment Advisers LLC purchased a new position in Clearwater Paper during the 1st quarter valued at about $152,000. Finally, Graham Capital Management L.P. purchased a new position in Clearwater Paper during the 4th quarter valued at about $238,000. 89.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CLW has been the subject of a number of recent research reports. Wall Street Zen cut shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. Royal Bank Of Canada reduced their price objective on shares of Clearwater Paper from $37.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday.

Clearwater Paper Stock Down 18.2%

NYSE:CLW opened at $24.09 on Thursday. The firm has a market cap of $391.70 million, a P/E ratio of 2.00 and a beta of 0.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.80 and a current ratio of 1.66. Clearwater Paper Corporation has a fifty-two week low of $22.58 and a fifty-two week high of $56.73. The firm has a 50-day simple moving average of $28.73 and a two-hundred day simple moving average of $27.60.

Clearwater Paper (NYSE:CLW) last released its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.51). The firm had revenue of $391.80 million for the quarter, compared to the consensus estimate of $397.00 million. Clearwater Paper had a net margin of 12.98% and a negative return on equity of 4.18%.

Clearwater Paper 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.