JPMorgan Chase & Co. Lowers Stock Holdings in Clearwater Paper Co. (NYSE:CLW)

JPMorgan Chase & Co. lessened its position in Clearwater Paper Co. (NYSE:CLW) by 12.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,339 shares of the basic materials company’s stock after selling 5,567 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.24% of Clearwater Paper worth $1,123,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CLW. nVerses Capital LLC acquired a new position in Clearwater Paper in the 3rd quarter valued at about $74,000. Caxton Associates LP acquired a new position in shares of Clearwater Paper in the second quarter valued at approximately $200,000. Paloma Partners Management Co purchased a new stake in Clearwater Paper during the 3rd quarter worth approximately $209,000. D.A. Davidson & CO. lifted its holdings in Clearwater Paper by 23.4% during the 3rd quarter. D.A. Davidson & CO. now owns 7,900 shares of the basic materials company’s stock worth $225,000 after buying an additional 1,500 shares in the last quarter. Finally, PEAK6 Investments LLC boosted its position in Clearwater Paper by 15.5% in the 3rd quarter. PEAK6 Investments LLC now owns 9,127 shares of the basic materials company’s stock valued at $260,000 after buying an additional 1,227 shares during the period. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Clearwater Paper Trading Up 1.6 %

NYSE CLW opened at $31.39 on Friday. Clearwater Paper Co. has a 52 week low of $23.97 and a 52 week high of $57.13. The firm has a 50 day moving average of $28.29 and a two-hundred day moving average of $32.15. 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 stock has a market capitalization of $520.12 million, a PE ratio of 36.50 and a beta of 0.32.

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