Ajo LP Reduces Stake in Clearwater Paper Corp. (CLW)
Ajo LP cut its position in Clearwater Paper Corp. (NYSE:CLW) by 42.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,102 shares of the company’s stock after selling 22,409 shares during the period. Ajo LP owned about 0.18% of Clearwater Paper Corp. worth $1,968,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Clearwater Paper Corp. during the fourth quarter worth approximately $8,247,000. Aperio Group LLC increased its stake in Clearwater Paper Corp. by 65.8% in the first quarter. Aperio Group LLC now owns 11,522 shares of the company’s stock worth $559,000 after buying an additional 4,574 shares during the last quarter. Virginia Retirement System acquired a new stake in Clearwater Paper Corp. during the first quarter worth approximately $887,000. Prudential Financial Inc. increased its stake in Clearwater Paper Corp. by 53.5% in the first quarter. Prudential Financial Inc. now owns 93,868 shares of the company’s stock worth $4,553,000 after buying an additional 32,710 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Clearwater Paper Corp. by 62.7% in the first quarter. JPMorgan Chase & Co. now owns 66,624 shares of the company’s stock worth $3,232,000 after buying an additional 25,679 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.
Shares of Clearwater Paper Corp. (NYSE:CLW) traded up 0.68% on Monday, reaching $62.43. 27,530 shares of the company were exchanged. The stock has a 50 day moving average price of $61.80 and a 200-day moving average price of $58.15. The stock has a market capitalization of $1.06 billion, a P/E ratio of 15.06 and a beta of 0.73. Clearwater Paper Corp. has a 12 month low of $32.00 and a 12 month high of $69.75.
Clearwater Paper Corp. (NYSE:CLW) last announced its quarterly earnings results on Thursday, July 21st. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.22. The business had revenue of $436.70 million for the quarter, compared to the consensus estimate of $437.09 million. Clearwater Paper Corp. had a net margin of 4.23% and a return on equity of 16.79%. On average, equities analysts expect that Clearwater Paper Corp. will post $3.78 EPS for the current fiscal year.
A number of analysts recently commented on CLW shares. Macquarie reiterated an “outperform” rating and issued a $75.00 target price (up from $66.00) on shares of Clearwater Paper Corp. in a report on Wednesday, June 8th. Sidoti began coverage on shares of Clearwater Paper Corp. in a report on Wednesday, June 22nd. They set a “buy” rating and a $80.00 price target on the stock. Zacks Investment Research lowered shares of Clearwater Paper Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Vertical Research lowered shares of Clearwater Paper Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Finally, Royal Bank Of Canada boosted their price target on shares of Clearwater Paper Corp. from $56.00 to $60.00 and gave the company a “sector perform” rating in a report on Friday, July 22nd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $68.17.
In other Clearwater Paper Corp. news, insider John Hertz sold 4,725 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $62.52, for a total transaction of $295,407.00. Following the sale, the insider now directly owns 30,972 shares in the company, valued at approximately $1,936,369.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.
Clearwater Paper Corp. Company Profile
Clearwater Paper Corporation manufactures quality consumer tissue, away-from-home (AFH), tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The Company is a supplier of private label tissue to retailers and wholesale distributors, including grocery, drug, mass merchants and discount stores.
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