Intech Investment Management LLC Buys New Holdings in Clearwater Paper Co. (NYSE:CLW)

Intech Investment Management LLC purchased a new position in Clearwater Paper Co. (NYSE:CLW) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 36,540 shares of the basic materials company’s stock, valued at approximately $1,043,000. Intech Investment Management LLC owned 0.22% of Clearwater Paper at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CLW. Louisiana State Employees Retirement System increased its stake in shares of Clearwater Paper by 2.4% in the second quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the basic materials company’s stock worth $407,000 after buying an additional 200 shares during the period. GAMMA Investing LLC increased its position in shares of Clearwater Paper by 30.3% in the second quarter. GAMMA Investing LLC now owns 1,096 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 255 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Clearwater Paper by 1.2% during the second quarter. SummerHaven Investment Management LLC now owns 23,515 shares of the basic materials company’s stock valued at $1,140,000 after acquiring an additional 287 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Clearwater Paper during the second quarter worth about $52,000. Finally, Public Sector Pension Investment Board grew its stake in shares of Clearwater Paper by 6.9% in the second quarter. Public Sector Pension Investment Board now owns 36,736 shares of the basic materials company’s stock worth $1,781,000 after purchasing an additional 2,360 shares during the last quarter. Institutional investors own 89.98% of the company’s stock.

Wall Street Analyst Weigh In

CLW has been the subject of a number of recent analyst reports. StockNews.com lowered Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $37.00 target price on shares of Clearwater Paper in a report on Tuesday, November 5th.

Clearwater Paper Trading Up 1.3 %

Shares of CLW opened at $27.39 on Thursday. Clearwater Paper Co. has a 1-year low of $24.17 and a 1-year high of $57.13. The company has a current ratio of 1.78, a quick ratio of 1.13 and a debt-to-equity ratio of 1.72. The firm’s 50-day moving average price is $27.32 and its 200-day moving average price is $38.50. The firm has a market capitalization of $453.85 million, a price-to-earnings ratio of 31.85 and a beta of 0.34.

Clearwater Paper declared that its Board of Directors has initiated a stock repurchase program on Monday, November 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the basic materials company to buy up to 23.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

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.