Quest Partners LLC Decreases Stock Position in Clearwater Paper Co. (NYSE:CLW)

Quest Partners LLC decreased its holdings in shares of Clearwater Paper Co. (NYSE:CLW) by 38.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,643 shares of the basic materials company’s stock after selling 3,558 shares during the period. Quest Partners LLC’s holdings in Clearwater Paper were worth $161,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Clearwater Paper by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,408,298 shares of the basic materials company’s stock worth $68,261,000 after acquiring an additional 10,074 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Clearwater Paper by 26.2% in the second quarter. Pacer Advisors Inc. now owns 1,299,972 shares of the basic materials company’s stock worth $63,010,000 after purchasing an additional 269,937 shares during the last quarter. Vanguard Group Inc. boosted its position in Clearwater Paper by 1.4% in the first quarter. Vanguard Group Inc. now owns 1,218,874 shares of the basic materials company’s stock valued at $53,301,000 after buying an additional 17,166 shares during the last quarter. American Century Companies Inc. increased its holdings in Clearwater Paper by 23.2% in 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 period. Finally, Assenagon Asset Management S.A. raised its position in 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. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CLW. Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 price objective on shares of Clearwater Paper in a research note on Tuesday, November 5th. StockNews.com downgraded Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th.

Clearwater Paper Trading Up 1.3 %

Shares of NYSE:CLW opened at $27.39 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.13 and a debt-to-equity ratio of 1.72. Clearwater Paper Co. has a 12-month low of $24.17 and a 12-month high of $57.13. The business has a 50 day moving average of $27.27 and a two-hundred day moving average of $38.43. The company has a market capitalization of $453.80 million, a PE ratio of 31.85 and a beta of 0.34.

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

Clearwater Paper Company Profile

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.