Clearwater Paper Co. (NYSE:CLW) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC raised its stake in shares of Clearwater Paper Co. (NYSE:CLW) by 124.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,400 shares of the basic materials company’s stock after acquiring an additional 6,865 shares during the period. HighTower Advisors LLC owned approximately 0.07% of Clearwater Paper worth $361,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Innealta Capital LLC purchased a new position in Clearwater Paper during the 2nd quarter valued at about $52,000. nVerses Capital LLC acquired a new stake in shares of Clearwater Paper during the third quarter worth about $74,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Clearwater Paper in the second quarter valued at approximately $153,000. Caxton Associates LP acquired a new position in shares of Clearwater Paper in the second quarter valued at approximately $200,000. Finally, Arizona State Retirement System purchased a new stake in Clearwater Paper during the 2nd quarter worth approximately $225,000. 89.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Clearwater Paper Price Performance

Shares of NYSE CLW opened at $30.26 on Monday. The company’s fifty day moving average is $26.76 and its two-hundred day moving average is $35.43. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.13 and a current ratio of 1.78. The firm has a market capitalization of $501.35 million, a P/E ratio of 35.19 and a beta of 0.33. Clearwater Paper Co. has a one year low of $23.97 and a one year high of $57.13.

Clearwater Paper declared that its Board of Directors has authorized a stock repurchase plan on Monday, November 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the basic materials company to buy up to 23.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.