Clearwater Paper Co. (NYSE:CLW) Short Interest Down 9.5% in August

Clearwater Paper Co. (NYSE:CLW) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 545,100 shares, a decline of 9.5% from the August 15th total of 602,500 shares. Currently, 3.4% of the shares of the stock are short sold. Based on an average daily volume of 231,800 shares, the days-to-cover ratio is currently 2.4 days.

Clearwater Paper Trading Up 0.7 %

Shares of Clearwater Paper stock traded up $0.21 during trading on Wednesday, hitting $29.71. The stock had a trading volume of 194,293 shares, compared to its average volume of 197,028. The stock has a 50 day simple moving average of $39.76 and a 200 day simple moving average of $43.69. The company has a market capitalization of $494.08 million, a PE ratio of 4.97 and a beta of 0.33. The company has a quick ratio of 0.74, a current ratio of 1.73 and a debt-to-equity ratio of 1.73. Clearwater Paper has a 1 year low of $27.69 and a 1 year high of $57.13.

Clearwater Paper (NYSE:CLW) last released its earnings results 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 return on equity of 11.56% and a net margin of 2.16%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP bought a new stake in Clearwater Paper in the fourth quarter worth approximately $9,909,000. Pacer Advisors Inc. grew its position in 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 acquiring an additional 269,937 shares in the last quarter. Grizzlyrock Capital LLC bought a new stake in Clearwater Paper in the fourth quarter worth approximately $4,585,000. Allspring Global Investments Holdings LLC grew its position in Clearwater Paper by 780.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 109,134 shares of the basic materials company’s stock worth $4,772,000 after acquiring an additional 96,740 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Clearwater Paper by 23.2% in the second quarter. American Century Companies Inc. now owns 495,358 shares of the basic materials company’s stock worth $24,010,000 after acquiring an additional 93,123 shares in the last quarter. 89.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CLW has been the topic of a number of research reports. StockNews.com downgraded shares of Clearwater Paper from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Royal Bank of Canada boosted their target price on shares of Clearwater Paper from $42.00 to $48.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 7th.

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.