Meeder Asset Management Inc. Sells 1,327 Shares of Clearwater Paper Co. (NYSE:CLW)

Meeder Asset Management Inc. trimmed its stake in shares of Clearwater Paper Co. (NYSE:CLW) by 27.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 3,492 shares of the basic materials company’s stock after selling 1,327 shares during the quarter. Meeder Asset Management Inc.’s holdings in Clearwater Paper were worth $100,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of Clearwater Paper during the 2nd quarter valued at $52,000. GAMMA Investing LLC lifted its position in shares of Clearwater Paper by 30.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,096 shares of the basic materials company’s stock worth $53,000 after buying an additional 255 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Clearwater Paper during the 3rd quarter worth $74,000. SG Americas Securities LLC bought a new stake in shares of Clearwater Paper during the 1st quarter worth $132,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Clearwater Paper during the 2nd quarter worth $153,000. 89.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on CLW shares. Royal Bank of Canada restated an “outperform” rating and set a $37.00 price objective on shares of Clearwater Paper in a research report 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 Price Performance

Shares of CLW opened at $26.03 on Thursday. 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 simple moving average of $27.51 and a two-hundred day simple moving average of $39.17. The company has a quick ratio of 1.13, a current ratio of 1.78 and a debt-to-equity ratio of 1.72. The stock has a market cap of $431.27 million, a PE ratio of 30.27 and a beta of 0.34.

Clearwater Paper declared that its Board of Directors has initiated a share 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 reacquire up to 23.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are 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.