Victory Capital Management Inc. Raises Holdings in Clearwater Paper Co. (NYSE:CLW)

Victory Capital Management Inc. lifted its position in Clearwater Paper Co. (NYSE:CLW) by 63.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,240 shares of the basic materials company’s stock after purchasing an additional 19,580 shares during the quarter. Victory Capital Management Inc.’s holdings in Clearwater Paper were worth $1,434,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CLW. Innealta Capital LLC bought a new stake in Clearwater Paper in the 2nd quarter worth approximately $52,000. GAMMA Investing LLC grew its holdings 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 purchasing an additional 255 shares in the last quarter. nVerses Capital LLC bought a new stake in Clearwater Paper in the third quarter worth $74,000. DekaBank Deutsche Girozentrale purchased a new stake in Clearwater Paper during the second quarter valued at $153,000. Finally, Caxton Associates LP bought a new position in Clearwater Paper during the second quarter valued at $200,000. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Paper Stock Up 3.1 %

Shares of CLW opened at $27.62 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.78 and a debt-to-equity ratio of 1.72. Clearwater Paper Co. has a 52-week low of $24.17 and a 52-week high of $57.13. The company has a market cap of $457.66 million, a PE ratio of 32.12 and a beta of 0.34. The business has a fifty day moving average of $27.37 and a 200 day moving average of $38.65.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 target price on shares of Clearwater Paper in a 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 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.