Barclays PLC Raises Stock Position in Clearwater Paper Co. (NYSE:CLW)

Barclays PLC grew its holdings in Clearwater Paper Co. (NYSE:CLW) by 339.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,139 shares of the basic materials company’s stock after buying an additional 20,966 shares during the period. Barclays PLC owned approximately 0.16% of Clearwater Paper worth $774,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CLW. Arizona State Retirement System purchased a new position in shares of Clearwater Paper in the 2nd quarter worth $225,000. American Century Companies Inc. grew its stake in shares of Clearwater Paper by 23.2% in the 2nd quarter. American Century Companies Inc. now owns 495,358 shares of the basic materials company’s stock worth $24,010,000 after buying an additional 93,123 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Clearwater Paper in the 2nd quarter worth $153,000. Dimensional Fund Advisors LP boosted its stake in shares of Clearwater Paper by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,408,298 shares of the basic materials company’s stock worth $68,261,000 after purchasing an additional 10,074 shares during the period. Finally, AE Wealth Management LLC purchased a new position in shares of Clearwater Paper during the 2nd quarter worth about $389,000. 89.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. StockNews.com cut shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $37.00 price target on shares of Clearwater Paper in a research note on Tuesday, November 5th.

Clearwater Paper Price Performance

CLW stock opened at $29.63 on Thursday. Clearwater Paper Co. has a 12 month low of $23.97 and a 12 month high of $57.13. The company has a current ratio of 1.78, a quick ratio of 1.13 and a debt-to-equity ratio of 1.72. The company has a 50-day moving average price of $27.69 and a 200 day moving average price of $32.86. The stock has a market cap of $490.91 million, a PE ratio of 34.45 and a beta of 0.32.

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 shares. This buyback authorization authorizes the basic materials company to reacquire up to 23.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is 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.