First Trust Advisors LP Sells 1,681 Shares of Clearwater Paper Corporation (CLW)
First Trust Advisors LP reduced its stake in shares of Clearwater Paper Corporation (NYSE:CLW) by 5.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,663 shares of the basic materials company’s stock after selling 1,681 shares during the quarter. First Trust Advisors LP owned 0.18% of Clearwater Paper Corporation worth $1,387,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in Clearwater Paper Corporation by 51.6% during the first quarter. Victory Capital Management Inc. now owns 2,159 shares of the basic materials company’s stock valued at $121,000 after acquiring an additional 735 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Clearwater Paper Corporation by 77.3% in the second quarter. State of Alaska Department of Revenue now owns 3,226 shares of the basic materials company’s stock valued at $150,000 after buying an additional 1,406 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of Clearwater Paper Corporation in the first quarter valued at approximately $162,000. US Bancorp DE increased its position in shares of Clearwater Paper Corporation by 1.0% in the first quarter. US Bancorp DE now owns 3,714 shares of the basic materials company’s stock valued at $208,000 after buying an additional 35 shares in the last quarter. Finally, Mason Street Advisors LLC increased its position in shares of Clearwater Paper Corporation by 5.4% in the first quarter. Mason Street Advisors LLC now owns 3,850 shares of the basic materials company’s stock valued at $216,000 after buying an additional 196 shares in the last quarter. Institutional investors own 84.45% of the company’s stock.
In other news, insider Michael S. Gadd sold 877 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $50.01, for a total value of $43,858.77. Following the completion of the sale, the insider now directly owns 19,010 shares of the company’s stock, valued at approximately $950,690.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael S. Gadd sold 1,546 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $50.04, for a total value of $77,361.84. Following the completion of the sale, the insider now directly owns 17,464 shares of the company’s stock, valued at $873,898.56. The disclosure for this sale can be found here. 2.41% of the stock is owned by company insiders.
Shares of Clearwater Paper Corporation (NYSE:CLW) opened at 46.40 on Monday. The stock has a 50 day moving average price of $45.97 and a 200-day moving average price of $48.77. The stock has a market capitalization of $762.49 million, a PE ratio of 29.92 and a beta of 1.07. Clearwater Paper Corporation has a 52-week low of $43.60 and a 52-week high of $68.40.
Clearwater Paper Corporation (NYSE:CLW) last posted its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.46 by $0.08. The business had revenue of $429.70 million during the quarter, compared to analysts’ expectations of $439.33 million. Clearwater Paper Corporation had a return on equity of 7.74% and a net margin of 1.49%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $1.37 EPS. On average, equities research analysts anticipate that Clearwater Paper Corporation will post $2.64 EPS for the current fiscal year.
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CLW has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Clearwater Paper Corporation from a “strong sell” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Wednesday, June 21st. BidaskClub cut Clearwater Paper Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Finally, Royal Bank Of Canada cut their price objective on Clearwater Paper Corporation from $63.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $60.50.
Clearwater Paper Corporation Profile
Clearwater Paper Corporation manufactures consumer tissue, away-from-home (AFH) tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The Company operates through two segments: Consumer Products segment, and Pulp and Paperboard segment. The Company’s Consumer Products segment manufactures and sells a line of at-home tissue products, as well as AFH products.
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