Comerica Bank Decreases Position in Clearwater Paper Corporation $CLW

Comerica Bank cut its stake in shares of Clearwater Paper Corporation (NYSE:CLW) by 56.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,978 shares of the basic materials company’s stock after selling 28,429 shares during the period. Comerica Bank owned 0.14% of Clearwater Paper worth $558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in Clearwater Paper during the first quarter valued at approximately $239,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Clearwater Paper by 21.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 233,474 shares of the basic materials company’s stock worth $5,923,000 after buying an additional 41,633 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in shares of Clearwater Paper by 101.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 388,339 shares of the basic materials company’s stock worth $11,561,000 after buying an additional 195,487 shares during the period. Vanguard Group Inc. raised its holdings in shares of Clearwater Paper by 1.9% in the first quarter. Vanguard Group Inc. now owns 1,142,392 shares of the basic materials company’s stock worth $28,982,000 after buying an additional 20,936 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Clearwater Paper by 120.4% in the fourth quarter. Bank of America Corp DE now owns 67,554 shares of the basic materials company’s stock worth $2,011,000 after buying an additional 36,910 shares during the period. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CLW has been the topic of several recent analyst reports. Royal Bank Of Canada reduced their price target on Clearwater Paper from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday, July 30th. Wall Street Zen downgraded Clearwater Paper from a “hold” rating to a “sell” rating in a report on Sunday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $36.00.

Clearwater Paper Trading Up 0.3%

CLW opened at $21.98 on Monday. The stock’s fifty day moving average is $25.23 and its two-hundred day moving average is $25.99. The company has a market capitalization of $353.88 million, a P/E ratio of 1.82 and a beta of 0.12. Clearwater Paper Corporation has a 52 week low of $20.84 and a 52 week high of $33.56. The company has a quick ratio of 0.87, a current ratio of 1.97 and a debt-to-equity ratio of 0.39.

Clearwater Paper (NYSE:CLW) last released its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.51). The firm had revenue of $391.80 million for the quarter, compared to analysts’ expectations of $397.00 million. Clearwater Paper had a negative return on equity of 4.11% and a net margin of 12.98%.

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.