Clearwater Paper Corporation $CLW Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Clearwater Paper Corporation (NYSE:CLW) by 70.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,377 shares of the basic materials company’s stock after purchasing an additional 36,113 shares during the period. JPMorgan Chase & Co. owned about 0.54% of Clearwater Paper worth $1,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hudson Bay Capital Management LP raised its position in shares of Clearwater Paper by 32.0% during the 3rd quarter. Hudson Bay Capital Management LP now owns 85,929 shares of the basic materials company’s stock worth $1,784,000 after acquiring an additional 20,811 shares in the last quarter. Turtle Creek Asset Management Inc. raised its position in shares of Clearwater Paper by 14.0% during the 3rd quarter. Turtle Creek Asset Management Inc. now owns 12,200 shares of the basic materials company’s stock worth $253,000 after acquiring an additional 1,500 shares in the last quarter. Numerai GP LLC raised its position in shares of Clearwater Paper by 46.7% during the 3rd quarter. Numerai GP LLC now owns 58,763 shares of the basic materials company’s stock worth $1,220,000 after acquiring an additional 18,720 shares in the last quarter. Millennium Management LLC raised its position in shares of Clearwater Paper by 62.9% during the 3rd quarter. Millennium Management LLC now owns 139,766 shares of the basic materials company’s stock worth $2,902,000 after acquiring an additional 53,987 shares in the last quarter. Finally, Invenomic Capital Management LP acquired a new stake in shares of Clearwater Paper during the 3rd quarter worth about $3,121,000. Institutional investors and hedge funds own 89.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CLW shares. TD Securities cut their target price on Clearwater Paper from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. Truist Financial cut their target price on Clearwater Paper from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Thursday, February 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of Clearwater Paper in a research report on Monday, December 29th. Finally, Royal Bank Of Canada cut their target price on Clearwater Paper from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.25.

Clearwater Paper Trading Down 3.5%

CLW opened at $14.47 on Wednesday. The firm has a market cap of $232.13 million, a price-to-earnings ratio of -12.92 and a beta of 0.22. Clearwater Paper Corporation has a 52 week low of $12.44 and a 52 week high of $30.96. The business’s 50 day moving average is $15.23 and its two-hundred day moving average is $17.51. The company has a quick ratio of 1.13, a current ratio of 2.43 and a debt-to-equity ratio of 0.42.

Clearwater Paper (NYSE:CLW) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.08. The company had revenue of $386.40 million for the quarter, compared to analyst estimates of $379.00 million. Clearwater Paper had a negative return on equity of 2.11% and a negative net margin of 1.20%.

Clearwater Paper Profile

Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.

The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.