Principal Financial Group Inc. Sells 3,843 Shares of Clearwater Paper Co. (NYSE:CLW)

Principal Financial Group Inc. cut its holdings in Clearwater Paper Co. (NYSE:CLW) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,381 shares of the basic materials company’s stock after selling 3,843 shares during the period. Principal Financial Group Inc. owned 0.47% of Clearwater Paper worth $2,237,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Clearwater Paper by 2.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,161 shares of the basic materials company’s stock valued at $1,260,000 after purchasing an additional 1,117 shares during the last quarter. PEAK6 Investments LLC grew its position in Clearwater Paper by 15.5% during the 3rd quarter. PEAK6 Investments LLC now owns 9,127 shares of the basic materials company’s stock worth $260,000 after purchasing an additional 1,227 shares during the last quarter. D.A. Davidson & CO. raised its stake in Clearwater Paper by 23.4% in the 3rd quarter. D.A. Davidson & CO. now owns 7,900 shares of the basic materials company’s stock worth $225,000 after acquiring an additional 1,500 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in Clearwater Paper by 6.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 36,736 shares of the basic materials company’s stock worth $1,781,000 after buying an additional 2,360 shares during the period. Finally, nVerses Capital LLC acquired a new position in Clearwater Paper during the third quarter valued at $74,000. Institutional investors own 89.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CLW. StockNews.com lowered shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $37.00 target price on shares of Clearwater Paper in a report on Tuesday, November 5th.

Clearwater Paper Trading Down 0.0 %

Shares of CLW stock opened at $29.50 on Friday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.13 and a current ratio of 1.78. Clearwater Paper Co. has a fifty-two week low of $23.97 and a fifty-two week high of $57.13. The stock has a market capitalization of $488.76 million, a P/E ratio of 34.30 and a beta of 0.33. The company has a 50 day moving average price of $27.30 and a 200 day moving average price of $34.10.

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