D.A. Davidson & CO. Purchases 1,500 Shares of Clearwater Paper Co. (NYSE:CLW)

D.A. Davidson & CO. increased its position in shares of Clearwater Paper Co. (NYSE:CLW) by 23.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,900 shares of the basic materials company’s stock after buying an additional 1,500 shares during the quarter. D.A. Davidson & CO.’s holdings in Clearwater Paper were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its stake in Clearwater Paper by 45.2% during the 3rd quarter. Pacer Advisors Inc. now owns 1,887,015 shares of the basic materials company’s stock valued at $53,855,000 after purchasing an additional 587,043 shares during the last quarter. Assenagon Asset Management S.A. raised its stake 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 valued at $10,663,000 after purchasing an additional 42,935 shares during the last quarter. Vanguard Group Inc. raised its stake in Clearwater Paper by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,218,874 shares of the basic materials company’s stock valued at $53,301,000 after purchasing an additional 17,166 shares during the last quarter. Intech Investment Management LLC acquired a new position in Clearwater Paper during the 3rd quarter valued at $1,043,000. Finally, Victory Capital Management Inc. raised its stake in shares of Clearwater Paper by 63.9% in the 3rd quarter. Victory Capital Management Inc. now owns 50,240 shares of the basic materials company’s stock valued at $1,434,000 after buying an additional 19,580 shares in the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Clearwater Paper Trading Up 0.9 %

Shares of CLW stock opened at $27.17 on Thursday. The stock has a market cap of $450.21 million, a price-to-earnings ratio of 31.33 and a beta of 0.33. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.13 and a current ratio of 1.78. The firm has a fifty day moving average of $27.05 and a 200-day moving average of $37.67. Clearwater Paper Co. has a 52-week low of $24.17 and a 52-week high of $57.13.

Clearwater Paper announced that its Board of Directors has initiated 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 buy up to 23.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership 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.