Federated Hermes Inc. Makes New Investment in Clearwater Paper Corporation $CLW

Federated Hermes Inc. bought a new position in shares of Clearwater Paper Corporation (NYSE:CLW) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 69,487 shares of the basic materials company’s stock, valued at approximately $1,443,000. Federated Hermes Inc. owned approximately 0.43% of Clearwater Paper as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its position in shares of Clearwater Paper by 34.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company’s stock valued at $60,000 after acquiring an additional 563 shares during the last quarter. CWM LLC increased its position in shares of Clearwater Paper by 2,215.1% during the 2nd quarter. CWM LLC now owns 3,380 shares of the basic materials company’s stock valued at $92,000 after purchasing an additional 3,234 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Clearwater Paper during the 3rd quarter valued at $114,000. BNP Paribas Financial Markets raised its stake in shares of Clearwater Paper by 608.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,585 shares of the basic materials company’s stock worth $179,000 after purchasing an additional 5,656 shares during the period. Finally, Caxton Associates LLP bought a new stake in Clearwater Paper in the first quarter worth about $204,000. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Clearwater Paper Stock Down 2.3%

CLW stock opened at $17.36 on Friday. The stock has a 50-day simple moving average of $18.24 and a two-hundred day simple moving average of $20.01. Clearwater Paper Corporation has a twelve month low of $16.44 and a twelve month high of $32.55. The firm has a market capitalization of $278.44 million, a PE ratio of 2.07 and a beta of 0.20. The company has a quick ratio of 0.88, a current ratio of 2.10 and a debt-to-equity ratio of 0.43.

Insider Transactions at Clearwater Paper

In other Clearwater Paper news, VP Steve M. Bowden sold 8,889 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $18.14, for a total value of $161,246.46. Following the completion of the transaction, the vice president directly owned 68,516 shares of the company’s stock, valued at $1,242,880.24. This trade represents a 11.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Clearwater Paper from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Truist Financial started coverage on Clearwater Paper in a report on Tuesday, January 20th. They set a “hold” rating and a $21.00 price objective for the company. 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 dropped their price target on Clearwater Paper from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.75.

Clearwater Paper Company 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.