Invenomic Capital Management LP Buys Shares of 150,332 Clearwater Paper Corporation $CLW

Invenomic Capital Management LP purchased a new position in shares of Clearwater Paper Corporation (NYSE:CLW) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 150,332 shares of the basic materials company’s stock, valued at approximately $3,121,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. UBS Group AG lifted its stake in Clearwater Paper by 228.3% during the 3rd quarter. UBS Group AG now owns 258,186 shares of the basic materials company’s stock worth $5,360,000 after acquiring an additional 179,539 shares in the last quarter. Readystate Asset Management LP boosted its holdings in Clearwater Paper by 19.2% during the 3rd quarter. Readystate Asset Management LP now owns 762,138 shares of the basic materials company’s stock valued at $15,822,000 after acquiring an additional 122,688 shares during the period. Peapod Lane Capital LLC grew its position in Clearwater Paper by 177.8% in the 3rd quarter. Peapod Lane Capital LLC now owns 165,388 shares of the basic materials company’s stock valued at $3,433,000 after acquiring an additional 105,850 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new stake in Clearwater Paper during the second quarter worth about $1,907,000. Finally, Federated Hermes Inc. purchased a new stake in Clearwater Paper during the third quarter worth about $1,443,000. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Paper Price Performance

Shares of NYSE CLW opened at $13.18 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.43 and a quick ratio of 1.13. The company has a market cap of $211.34 million, a price-to-earnings ratio of -11.76 and a beta of 0.23. The stock’s 50-day moving average is $16.90 and its two-hundred day moving average is $18.36. Clearwater Paper Corporation has a 1-year low of $12.84 and a 1-year high of $30.96.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.08. Clearwater Paper had a negative return on equity of 2.11% and a negative net margin of 1.20%.The business had revenue of $386.40 million during the quarter, compared to analysts’ expectations of $379.00 million.

Analysts Set New Price Targets

CLW has been the topic of several research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Clearwater Paper in a research report on Monday, December 29th. TD Securities dropped their price objective on shares of Clearwater Paper from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Royal Bank Of Canada cut their target price on shares of Clearwater Paper from $25.00 to $23.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Finally, Truist Financial reduced their target price on shares of Clearwater Paper from $21.00 to $16.00 and set a “hold” rating on the stock in a report on Thursday, February 19th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Clearwater Paper currently has a consensus rating of “Hold” and an average target price of $22.25.

About Clearwater Paper

Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.

The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.