US Bancorp DE Decreases Stock Position in Clearwater Paper Co. (NYSE:CLW)

US Bancorp DE decreased its stake in shares of Clearwater Paper Co. (NYSE:CLW) by 41.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,300 shares of the basic materials company’s stock after selling 924 shares during the quarter. US Bancorp DE’s holdings in Clearwater Paper were worth $37,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new position in Clearwater Paper during the 2nd quarter valued at approximately $52,000. GAMMA Investing LLC boosted its holdings in shares of Clearwater Paper by 30.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,096 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 255 shares during the last quarter. nVerses Capital LLC purchased a new position in Clearwater Paper during the third quarter worth about $74,000. SG Americas Securities LLC acquired a new stake in shares of Clearwater Paper during the 1st quarter worth about $132,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Clearwater Paper in the second quarter valued at approximately $153,000. Institutional investors own 89.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. StockNews.com downgraded Clearwater Paper from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 price target on shares of Clearwater Paper in a report on Tuesday, November 5th.

Clearwater Paper Price Performance

Shares of NYSE CLW opened at $24.81 on Tuesday. Clearwater Paper Co. has a 1-year low of $24.17 and a 1-year high of $57.13. The company has a market capitalization of $411.10 million, a price-to-earnings ratio of 28.85 and a beta of 0.34. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.78 and a quick ratio of 1.13. The business has a 50-day moving average of $27.63 and a 200-day moving average of $39.40.

Clearwater Paper announced that its Board of Directors has authorized a share repurchase plan on Monday, November 4th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 23.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are 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.