Clearwater Paper Co. (NYSE:CLW) Short Interest Update

Clearwater Paper Co. (NYSE:CLW) saw a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 389,800 shares, a drop of 60.6% from the December 31st total of 988,200 shares. Currently, 2.4% of the shares of the company are short sold. Based on an average daily volume of 464,600 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Ratings Changes

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

Institutional Trading of Clearwater Paper

Institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. increased its position in 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 worth $53,855,000 after purchasing an additional 587,043 shares during the period. Peregrine Capital Management LLC bought a new position in shares of Clearwater Paper in the 4th quarter worth $4,328,000. Wedge Capital Management L L P NC grew its position in shares of Clearwater Paper by 14.7% during the 4th quarter. Wedge Capital Management L L P NC now owns 141,130 shares of the basic materials company’s stock worth $4,201,000 after buying an additional 18,139 shares during the period. Empowered Funds LLC increased its stake in shares of Clearwater Paper by 5.1% in the 4th quarter. Empowered Funds LLC now owns 111,947 shares of the basic materials company’s stock valued at $3,333,000 after acquiring an additional 5,428 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Clearwater Paper by 10.9% in the 2nd quarter. AQR Capital Management LLC now owns 111,002 shares of the basic materials company’s stock valued at $5,380,000 after acquiring an additional 10,875 shares during the period. 89.98% of the stock is currently owned by institutional investors and hedge funds.

Clearwater Paper Stock Performance

NYSE:CLW traded down $0.20 during trading hours on Friday, hitting $32.17. 207,201 shares of the company traded hands, compared to its average volume of 313,630. The company has a current ratio of 1.78, a quick ratio of 1.13 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $533.12 million, a price-to-earnings ratio of 37.41 and a beta of 0.32. The firm has a 50-day moving average of $28.84 and a 200 day moving average of $31.77. Clearwater Paper has a twelve month low of $23.97 and a twelve month high of $57.13.

Clearwater Paper announced that its Board of Directors has initiated a stock buyback plan on Monday, November 4th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the basic materials company to reacquire up to 23.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Clearwater Paper

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.