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

Clearwater Paper Co. (NYSE:CLW) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 544,400 shares, an increase of 34.8% from the January 31st total of 403,900 shares. Based on an average trading volume of 368,100 shares, the days-to-cover ratio is currently 1.5 days. Approximately 3.5% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

CLW has been the subject of a number of research reports. StockNews.com raised Clearwater Paper from a “sell” rating to a “hold” rating in a report on Monday, February 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $37.00 target price on shares of Clearwater Paper in a report on Tuesday, February 18th.

Clearwater Paper Trading Down 4.0 %

Clearwater Paper stock opened at $25.12 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.70 and a debt-to-equity ratio of 0.33. Clearwater Paper has a 52 week low of $23.97 and a 52 week high of $57.13. The company has a market capitalization of $406.24 million, a price-to-earnings ratio of 2.14 and a beta of 0.35. The stock has a 50-day moving average price of $29.71 and a 200 day moving average price of $28.77.

Clearwater Paper (NYSE:CLW) last released its quarterly earnings data on Thursday, February 13th. The basic materials company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.84). Clearwater Paper had a negative return on equity of 1.87% and a net margin of 10.54%.

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

Insiders Place Their Bets

In other Clearwater Paper news, SVP Kari G. Moyes sold 2,778 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $26.72, for a total value of $74,228.16. Following the completion of the sale, the senior vice president now owns 83,799 shares of the company’s stock, valued at approximately $2,239,109.28. This trade represents a 3.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CLW. Pacer Advisors Inc. lifted its position in shares of Clearwater Paper by 45.2% during the 3rd quarter. Pacer Advisors Inc. now owns 1,887,015 shares of the basic materials company’s stock valued at $53,855,000 after buying an additional 587,043 shares in the last quarter. Millennium Management LLC raised its stake in Clearwater Paper by 1,102.7% in the 4th quarter. Millennium Management LLC now owns 429,264 shares of the basic materials company’s stock valued at $12,779,000 after purchasing an additional 393,572 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in Clearwater Paper by 101.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 388,339 shares of the basic materials company’s stock valued at $11,561,000 after purchasing an additional 195,487 shares during the last quarter. Marshall Wace LLP acquired a new position in Clearwater Paper in the 4th quarter valued at $5,418,000. Finally, Cramer Rosenthal Mcglynn LLC raised its stake in Clearwater Paper by 322.8% in the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 218,279 shares of the basic materials company’s stock valued at $6,498,000 after purchasing an additional 166,653 shares during the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Clearwater Paper Company 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.