Bank of New York Mellon Corp Cuts Stake in Clearwater Paper Co. (NYSE:CLW)

Bank of New York Mellon Corp decreased its holdings in Clearwater Paper Co. (NYSE:CLW) by 57.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,978 shares of the basic materials company’s stock after selling 74,073 shares during the period. Bank of New York Mellon Corp owned approximately 0.33% of Clearwater Paper worth $1,637,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Peregrine Capital Management LLC bought a new stake in Clearwater Paper during the 4th quarter valued at $4,328,000. Readystate Asset Management LP bought a new stake in Clearwater Paper during the 3rd quarter valued at $1,978,000. Intech Investment Management LLC bought a new stake in Clearwater Paper during the 3rd quarter valued at $1,043,000. Y Intercept Hong Kong Ltd bought a new stake in Clearwater Paper during the 3rd quarter valued at $877,000. Finally, Cinctive Capital Management LP bought a new stake in Clearwater Paper during the 3rd quarter valued at $815,000. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Kari G. Moyes sold 1,132 shares of Clearwater Paper stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.98, for a total transaction of $27,145.36. Following the completion of the transaction, the senior vice president now directly owns 81,439 shares of the company’s stock, valued at $1,952,907.22. This trade represents a 1.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CLW shares. StockNews.com upgraded shares of Clearwater Paper from a “sell” rating to a “hold” rating in a report on Monday, February 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of Clearwater Paper in a report on Tuesday, February 18th.

Clearwater Paper Stock Down 1.1 %

Shares of NYSE CLW opened at $24.27 on Friday. The company has a current ratio of 1.70, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33. Clearwater Paper Co. has a 12 month low of $22.58 and a 12 month high of $57.13. The firm has a market capitalization of $392.57 million, a PE ratio of 2.07 and a beta of 0.37. The firm has a fifty day simple moving average of $28.07 and a two-hundred day simple moving average of $27.94.

Clearwater Paper (NYSE:CLW) last issued 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 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.