Principal Financial Group Inc. lifted its stake in shares of Clearwater Paper Corp (NYSE:CLW) by 2.5% during the first quarter, HoldingsChannel.com reports. The fund owned 126,073 shares of the basic materials company’s stock after purchasing an additional 3,106 shares during the period. Principal Financial Group Inc.’s holdings in Clearwater Paper were worth $4,929,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of CLW. BlackRock Inc. increased its stake in shares of Clearwater Paper by 1.5% during the first quarter. BlackRock Inc. now owns 2,131,121 shares of the basic materials company’s stock valued at $83,326,000 after acquiring an additional 30,713 shares during the period. Algert Global LLC acquired a new position in shares of Clearwater Paper during the first quarter valued at approximately $1,139,000. SG Americas Securities LLC acquired a new position in shares of Clearwater Paper during the first quarter valued at approximately $1,128,000. Prudential Financial Inc. increased its stake in shares of Clearwater Paper by 14.9% during the first quarter. Prudential Financial Inc. now owns 185,118 shares of the basic materials company’s stock valued at $7,238,000 after acquiring an additional 24,050 shares during the period. Finally, Personal Capital Advisors Corp increased its stake in shares of Clearwater Paper by 56.7% during the first quarter. Personal Capital Advisors Corp now owns 64,617 shares of the basic materials company’s stock valued at $2,527,000 after acquiring an additional 23,384 shares during the period. Institutional investors and hedge funds own 92.07% of the company’s stock.
A number of research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Clearwater Paper from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. ValuEngine upgraded shares of Clearwater Paper from a “strong sell” rating to a “sell” rating in a research note on Monday, July 2nd. Finally, Royal Bank of Canada upgraded shares of Clearwater Paper from a “sector perform” rating to an “outperform” rating and lowered their price objective for the company from $35.00 to $30.00 in a research note on Thursday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.67.
Shares of NYSE:CLW opened at $29.35 on Wednesday. The company has a market cap of $460.54 million, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 2.99 and a beta of 1.03. Clearwater Paper Corp has a 1-year low of $21.55 and a 1-year high of $50.60. The company has a quick ratio of 0.36, a current ratio of 0.86 and a debt-to-equity ratio of 0.97.
Clearwater Paper (NYSE:CLW) last issued its earnings results on Wednesday, August 1st. The basic materials company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.15. The firm had revenue of $432.10 million during the quarter, compared to analysts’ expectations of $428.15 million. Clearwater Paper had a net margin of 5.27% and a return on equity of 4.95%. sell-side analysts anticipate that Clearwater Paper Corp will post 1.87 EPS for the current year.
About Clearwater Paper
Clearwater Paper Corporation produces and sells produces and sells private label tissue and bleached paperboard products in the United States and internationally. It operates in two segments, Consumer Products, and Pulp and Paperboard. The Consumer Products segment manufactures and sells a line of at-home tissue products, including bathroom tissues, paper towels, facial tissues, and napkins; recycled fiber value grade products; and away-from-home products, such as conventional one- and two-ply bath tissues, two-ply paper towels, hard wound towels, and dispenser napkins.
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