Empowered Funds LLC Takes Position in Clearwater Paper Corporation $CLW

Empowered Funds LLC purchased a new stake in Clearwater Paper Corporation (NYSE:CLW) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 83,119 shares of the basic materials company’s stock, valued at approximately $1,303,000. Empowered Funds LLC owned approximately 0.52% of Clearwater Paper as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Clearwater Paper by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,629 shares of the basic materials company’s stock valued at $244,000 after purchasing an additional 390 shares in the last quarter. Caxton Associates LLP purchased a new stake in Clearwater Paper in the first quarter valued at about $204,000. Russell Investments Group Ltd. increased its stake in Clearwater Paper by 93.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 45,171 shares of the basic materials company’s stock valued at $1,230,000 after purchasing an additional 21,803 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Clearwater Paper in the second quarter worth about $304,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Clearwater Paper during the 2nd quarter valued at approximately $1,780,000. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Paper Stock Up 0.7%

Shares of NYSE:CLW opened at $20.84 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.29 and a quick ratio of 1.17. The firm has a market capitalization of $336.23 million, a PE ratio of -6.86 and a beta of 0.22. The firm’s 50-day moving average is $19.15 and its two-hundred day moving average is $16.37. Clearwater Paper Corporation has a 1 year low of $11.73 and a 1 year high of $23.59.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on CLW. Bank of America started coverage on Clearwater Paper in a report on Thursday, July 2nd. They set a “buy” rating and a $19.00 target price on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $21.00 price objective on shares of Clearwater Paper in a research note on Wednesday, July 29th. Zacks Research upgraded Clearwater Paper to a “hold” rating in a report on Monday, July 6th. Truist Financial upped their price objective on shares of Clearwater Paper from $12.00 to $17.00 and gave the company 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 equities research 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.50.

About Clearwater Paper

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.