Empowered Funds LLC Sells 66,491 Shares of Clearwater Paper Corporation $CLW

Empowered Funds LLC lowered its holdings in shares of Clearwater Paper Corporation (NYSE:CLW) by 45.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,101 shares of the basic materials company’s stock after selling 66,491 shares during the quarter. Empowered Funds LLC’s holdings in Clearwater Paper were worth $1,152,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Quantinno Capital Management LP lifted its stake in shares of Clearwater Paper by 134.7% in the 1st quarter. Quantinno Capital Management LP now owns 51,515 shares of the basic materials company’s stock worth $741,000 after purchasing an additional 29,570 shares during the period. Renaissance Technologies LLC grew its position in Clearwater Paper by 107.4% during the first quarter. Renaissance Technologies LLC now owns 237,115 shares of the basic materials company’s stock valued at $3,410,000 after buying an additional 122,815 shares during the period. Group One Trading LLC increased its holdings in Clearwater Paper by 184.4% during the first quarter. Group One Trading LLC now owns 3,572 shares of the basic materials company’s stock valued at $51,000 after buying an additional 2,316 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Clearwater Paper by 11.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,678 shares of the basic materials company’s stock valued at $211,000 after buying an additional 1,450 shares during the last quarter. Finally, Fifth Third Bancorp bought a new position in Clearwater Paper in the first quarter worth approximately $401,000. Institutional investors own 89.98% of the company’s stock.

Clearwater Paper Price Performance

Shares of Clearwater Paper stock opened at $23.30 on Friday. The company has a market capitalization of $375.83 million, a price-to-earnings ratio of -7.66 and a beta of 0.24. The company has a quick ratio of 1.17, a current ratio of 2.29 and a debt-to-equity ratio of 0.45. The stock’s 50-day simple moving average is $17.23 and its 200-day simple moving average is $15.87. Clearwater Paper Corporation has a 52 week low of $11.73 and a 52 week high of $23.59.

Clearwater Paper (NYSE:CLW) last released its earnings results on Tuesday, July 28th. The basic materials company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.49) by ($0.26). The business had revenue of $374.80 million for the quarter, compared to analysts’ expectations of $374.80 million. Clearwater Paper had a negative return on equity of 7.95% and a negative net margin of 3.24%. As a group, analysts expect that Clearwater Paper Corporation will post -2.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD cut shares of Clearwater Paper from a “buy” rating to a “hold” rating and dropped their price target for the stock from $19.00 to $17.00 in a research note on Wednesday, April 29th. TD Cowen lowered Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 price objective for the company. in a research note on Wednesday, April 29th. Bank of America started coverage on Clearwater Paper in a research note on Thursday, July 2nd. They issued a “buy” rating and a $19.00 price objective for the company. Truist Financial raised their target price on Clearwater Paper from $12.00 to $17.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Finally, Wall Street Zen downgraded Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Sunday, June 28th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Clearwater Paper currently has a consensus rating of “Hold” and a consensus target price of $18.50.

Clearwater Paper Profile

Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.

The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.