Victory Capital Management Inc. Grows Stake in Clearwater Paper Co. (NYSE:CLW)

Victory Capital Management Inc. grew its stake in Clearwater Paper Co. (NYSE:CLW) by 63.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,240 shares of the basic materials company’s stock after buying an additional 19,580 shares during the period. Victory Capital Management Inc. owned approximately 0.30% of Clearwater Paper worth $1,434,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CLW. Dimensional Fund Advisors LP raised its holdings in shares of Clearwater Paper by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,408,298 shares of the basic materials company’s stock valued at $68,261,000 after buying an additional 10,074 shares in the last quarter. Pacer Advisors Inc. raised its position in Clearwater Paper by 26.2% during 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 during the last quarter. Vanguard Group Inc. boosted its holdings in Clearwater Paper by 1.4% in the first 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 in the last quarter. American Century Companies Inc. boosted its stake in shares of Clearwater Paper by 23.2% during the 2nd quarter. American Century Companies Inc. now owns 495,358 shares of the basic materials company’s stock valued at $24,010,000 after purchasing an additional 93,123 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Clearwater Paper by 24.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 219,983 shares of the basic materials company’s stock worth $10,663,000 after acquiring an additional 42,935 shares during the period. Institutional investors own 89.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CLW. StockNews.com cut shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 price objective on shares of Clearwater Paper in a report on Tuesday, November 5th.

Clearwater Paper Trading Up 3.1 %

Clearwater Paper stock opened at $27.62 on Tuesday. The business has a 50-day simple moving average of $27.37 and a two-hundred day simple moving average of $38.65. The company has a quick ratio of 1.13, a current ratio of 1.78 and a debt-to-equity ratio of 1.72. The company has a market cap of $457.66 million, a P/E ratio of 32.12 and a beta of 0.34. Clearwater Paper Co. has a 52-week low of $24.17 and a 52-week high of $57.13.

Clearwater Paper declared that its board has authorized a share buyback program on Monday, November 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the basic materials company to repurchase up to 23.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.