Clearwater Paper Co. (NYSE:CLW) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its position in shares of Clearwater Paper Co. (NYSE:CLW) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,000 shares of the basic materials company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Clearwater Paper were worth $228,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CLW. Pacer Advisors Inc. increased its holdings in shares of Clearwater Paper by 26.2% during the 2nd quarter. Pacer Advisors Inc. now owns 1,299,972 shares of the basic materials company’s stock worth $63,010,000 after buying an additional 269,937 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Clearwater Paper by 23.2% during the 2nd quarter. American Century Companies Inc. now owns 495,358 shares of the basic materials company’s stock worth $24,010,000 after buying an additional 93,123 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Clearwater Paper by 39.1% during the 2nd quarter. Acadian Asset Management LLC now owns 218,505 shares of the basic materials company’s stock worth $10,586,000 after buying an additional 61,366 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Clearwater Paper by 24.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 219,983 shares of the basic materials company’s stock worth $10,663,000 after buying an additional 42,935 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Clearwater Paper by 35.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 148,051 shares of the basic materials company’s stock valued at $7,176,000 after purchasing an additional 38,917 shares in the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

Clearwater Paper Stock Up 3.6 %

Shares of NYSE CLW opened at $29.04 on Thursday. Clearwater Paper Co. has a 12-month low of $24.51 and a 12-month high of $57.13. The company has a market cap of $482.94 million, a P/E ratio of 33.77 and a beta of 0.34. The company has a current ratio of 1.73, a quick ratio of 0.74 and a debt-to-equity ratio of 1.73. The stock has a fifty day moving average price of $28.54 and a 200 day moving average price of $40.29.

Clearwater Paper (NYSE:CLW) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported ($0.42) earnings per share for the quarter. The firm had revenue of $586.40 million during the quarter. Clearwater Paper had a net margin of 0.74% and a return on equity of 4.34%.

Clearwater Paper declared that its board has authorized a share repurchase plan on Monday, November 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the basic materials company to purchase up to 23.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 price target on shares of Clearwater Paper in a report on Tuesday. StockNews.com downgraded Clearwater Paper from a “hold” rating to a “sell” rating in a report on Wednesday.

About Clearwater Paper

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through Pulp and Paperboard, and Consumer Products segments. The Pulp and Paperboard segment manufactures and markets bleached paperboard; Solid Bleached Sulfate paperboard that is used to produce folding cartons, liquid packaging, cups and plates, blister and carded packaging, and top sheet and commercial printing items; and hardwood and softwood pulp, as well as offers services that include custom sheeting, slitting, and cutting.