Clearwater Paper Co. (NYSE:CLW) Sees Significant Decline in Short Interest

Clearwater Paper Co. (NYSE:CLW) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 984,500 shares, a decrease of 9.7% from the October 15th total of 1,090,000 shares. Based on an average trading volume of 411,000 shares, the short-interest ratio is presently 2.4 days. Approximately 6.1% of the company’s shares are short sold.

Institutional Investors Weigh In On Clearwater Paper

A number of hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of Clearwater Paper in the 1st quarter valued at approximately $132,000. Sei Investments Co. boosted its stake in Clearwater Paper by 18.6% during the 1st quarter. Sei Investments Co. now owns 39,458 shares of the basic materials company’s stock valued at $1,726,000 after acquiring an additional 6,178 shares during the last quarter. Vanguard Group Inc. boosted its stake in Clearwater Paper by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,218,874 shares of the basic materials company’s stock valued at $53,301,000 after acquiring an additional 17,166 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Clearwater Paper by 14.2% during the 1st quarter. Acadian Asset Management LLC now owns 157,139 shares of the basic materials company’s stock worth $6,867,000 after acquiring an additional 19,590 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its position in shares of Clearwater Paper by 8.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 80,928 shares of the basic materials company’s stock worth $3,539,000 after purchasing an additional 6,560 shares during the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

Clearwater Paper Stock Down 1.9 %

NYSE CLW traded down $0.47 on Tuesday, reaching $24.34. The company had a trading volume of 10,219 shares, compared to its average volume of 250,070. The firm has a market capitalization of $403.31 million, a PE ratio of 28.85 and a beta of 0.34. The firm has a 50-day moving average of $27.63 and a 200-day moving average of $39.40. Clearwater Paper has a 1 year low of $24.17 and a 1 year high of $57.13. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.78 and a quick ratio of 1.13.

Clearwater Paper declared that its board has approved a stock buyback program 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CLW shares. StockNews.com lowered shares of Clearwater Paper from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 price objective on shares of Clearwater Paper in a research report on Tuesday, November 5th.

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.