Truist Financial Corp Buys New Shares in Clearwater Paper Co. (NYSE:CLW)

Truist Financial Corp bought a new position in shares of Clearwater Paper Co. (NYSE:CLW) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,240 shares of the basic materials company’s stock, valued at approximately $351,000.

Other large investors also recently bought and sold shares of the company. AQR Capital Management LLC grew its position in shares of Clearwater Paper by 10.9% during the second quarter. AQR Capital Management LLC now owns 111,002 shares of the basic materials company’s stock worth $5,380,000 after buying an additional 10,875 shares in the last quarter. Caxton Associates LP acquired a new position in Clearwater Paper during the 2nd quarter worth approximately $200,000. Public Sector Pension Investment Board grew its holdings in Clearwater Paper by 6.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 36,736 shares of the basic materials company’s stock worth $1,781,000 after acquiring an additional 2,360 shares in the last quarter. Sei Investments Co. increased its position in shares of Clearwater Paper by 21.6% in the 2nd quarter. Sei Investments Co. now owns 47,991 shares of the basic materials company’s stock valued at $2,326,000 after purchasing an additional 8,533 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Clearwater Paper by 26.2% in the 2nd quarter. Pacer Advisors Inc. now owns 1,299,972 shares of the basic materials company’s stock valued at $63,010,000 after purchasing an additional 269,937 shares in the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CLW shares. StockNews.com downgraded shares of Clearwater Paper from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Royal Bank of Canada raised Clearwater Paper from a “sector perform” rating to an “outperform” rating and cut their target price for the stock from $48.00 to $37.00 in a research report on Friday.

Clearwater Paper Trading Up 3.7 %

NYSE CLW opened at $28.86 on Friday. The firm’s fifty day moving average price is $29.97 and its 200 day moving average price is $41.54. Clearwater Paper Co. has a 12 month low of $25.50 and a 12 month high of $57.13. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.73 and a quick ratio of 0.74. The company has a market capitalization of $479.86 million, a price-to-earnings ratio of 10.77 and a beta of 0.32.

Clearwater Paper (NYSE:CLW) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported ($0.42) earnings per share (EPS) for the quarter. Clearwater Paper had a return on equity of 11.56% and a net margin of 2.16%. The firm had revenue of $586.40 million for the quarter.

Clearwater Paper 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.