Clearwater Paper Corp (CLW) Stake Raised by Bank of America Corp DE

Share on StockTwits

Bank of America Corp DE grew its holdings in shares of Clearwater Paper Corp (NYSE:CLW) by 43.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 18,634 shares of the basic materials company’s stock after purchasing an additional 5,689 shares during the quarter. Bank of America Corp DE’s holdings in Clearwater Paper were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Man Group plc bought a new stake in shares of Clearwater Paper during the third quarter valued at approximately $255,000. Algert Global LLC raised its holdings in shares of Clearwater Paper by 26.9% during the fourth quarter. Algert Global LLC now owns 29,297 shares of the basic materials company’s stock valued at $714,000 after buying an additional 6,209 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in shares of Clearwater Paper during the fourth quarter valued at approximately $153,000. Arizona State Retirement System raised its holdings in shares of Clearwater Paper by 6.2% during the fourth quarter. Arizona State Retirement System now owns 25,350 shares of the basic materials company’s stock valued at $618,000 after buying an additional 1,471 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Clearwater Paper by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 203,032 shares of the basic materials company’s stock valued at $6,031,000 after buying an additional 7,254 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.

NYSE CLW opened at $17.96 on Wednesday. Clearwater Paper Corp has a 12 month low of $17.19 and a 12 month high of $35.27. The company has a current ratio of 0.94, a quick ratio of 0.39 and a debt-to-equity ratio of 1.55. The company has a market cap of $295.62 million, a P/E ratio of 7.04 and a beta of 1.74.

Clearwater Paper (NYSE:CLW) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.10). Clearwater Paper had a negative net margin of 8.31% and a positive return on equity of 7.76%. The company had revenue of $428.78 million for the quarter, compared to analyst estimates of $422.99 million. Sell-side analysts predict that Clearwater Paper Corp will post -0.3 EPS for the current fiscal year.

A number of research analysts recently commented on CLW shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price objective on shares of Clearwater Paper in a research note on Wednesday, March 13th. ValuEngine lowered shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Zacks Investment Research lowered shares of Clearwater Paper from a “hold” rating to a “strong sell” rating in a research note on Monday, March 18th. TheStreet lowered shares of Clearwater Paper from a “c” rating to a “d” rating in a research note on Wednesday, March 13th. Finally, DA Davidson lowered their price objective on shares of Clearwater Paper to $44.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.67.

In related news, insider Linda K. Massman acquired 5,500 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $17.92 per share, for a total transaction of $98,560.00. Following the completion of the purchase, the insider now directly owns 243,976 shares of the company’s stock, valued at $4,372,049.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.97% of the stock is owned by company insiders.

ILLEGAL ACTIVITY WARNING: “Clearwater Paper Corp (CLW) Stake Raised by Bank of America Corp DE” was reported by Macon Daily and is the property of of Macon Daily. If you are accessing this article on another domain, it was stolen and reposted in violation of United States and international trademark & copyright legislation. The original version of this article can be accessed at https://macondaily.com/2019/05/22/clearwater-paper-corp-clw-stake-raised-by-bank-of-america-corp-de.html.

Clearwater Paper Company Profile

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.

Read More: FAANG Stocks

Want to see what other hedge funds are holding CLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Clearwater Paper Corp (NYSE:CLW).

Institutional Ownership by Quarter for Clearwater Paper (NYSE:CLW)

Receive News & Ratings for Clearwater Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearwater Paper and related companies with MarketBeat.com's FREE daily email newsletter.