Clearwater Paper Corp. (CLW) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. raised its stake in Clearwater Paper Corp. (NYSE:CLW) by 76.9% during the second quarter, Holdings Channel reports. The institutional investor owned 1,550 shares of the company’s stock after buying an additional 674 shares during the period. Victory Capital Management Inc.’s holdings in Clearwater Paper Corp. were worth $101,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in shares of Clearwater Paper Corp. during the second quarter worth approximately $141,000. Acadian Asset Management LLC purchased a new position in shares of Clearwater Paper Corp. during the second quarter worth approximately $256,000. Janney Montgomery Scott LLC purchased a new position in shares of Clearwater Paper Corp. during the second quarter worth approximately $273,000. BNP Paribas Arbitrage SA raised its position in shares of Clearwater Paper Corp. by 94.4% in the second quarter. BNP Paribas Arbitrage SA now owns 5,933 shares of the company’s stock worth $388,000 after buying an additional 2,881 shares during the last quarter. Finally, Palo Capital Inc. purchased a new position in shares of Clearwater Paper Corp. during the second quarter worth approximately $392,000. Hedge funds and other institutional investors own 86.42% of the company’s stock.
Clearwater Paper Corp. (NYSE:CLW) traded down 0.89% during midday trading on Friday, hitting $64.38. The stock had a trading volume of 53,459 shares. The company has a market cap of $1.09 billion, a PE ratio of 15.53 and a beta of 0.68. The firm has a 50-day moving average of $62.66 and a 200-day moving average of $60.32. Clearwater Paper Corp. has a 12-month low of $32.00 and a 12-month high of $69.75.
Clearwater Paper Corp. (NYSE:CLW) last announced its quarterly earnings results on Thursday, July 21st. The company reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.22. Clearwater Paper Corp. had a return on equity of 16.79% and a net margin of 4.23%. The firm earned $436.70 million during the quarter, compared to analyst estimates of $437.09 million. Equities research analysts forecast that Clearwater Paper Corp. will post $3.78 EPS for the current year.
A number of equities analysts recently commented on CLW shares. Zacks Investment Research raised Clearwater Paper Corp. from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Monday, July 25th. Sidoti started coverage on Clearwater Paper Corp. in a research note on Wednesday, June 22nd. They set a “buy” rating and a $80.00 price target for the company. Vertical Research lowered Clearwater Paper Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Vertical Group lowered Clearwater Paper Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $60.00 price target (up from $56.00) on shares of Clearwater Paper Corp. in a research note on Sunday, July 24th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $68.17.
In related news, insider John Hertz sold 4,725 shares of Clearwater Paper Corp. stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $62.52, for a total value of $295,407.00. Following the completion of the transaction, the insider now owns 30,972 shares in the company, valued at approximately $1,936,369.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.
Clearwater Paper Corp. Company Profile
Clearwater Paper Corporation manufactures quality consumer tissue, away-from-home (AFH), tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The Company is a supplier of private label tissue to retailers and wholesale distributors, including grocery, drug, mass merchants and discount stores.
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