State of Tennessee Treasury Department decreased its position in Clearwater Paper Corp (NYSE:CLW) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,319 shares of the basic materials company’s stock after selling 1,450 shares during the quarter. State of Tennessee Treasury Department’s holdings in Clearwater Paper were worth $605,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in CLW. BlackRock Inc. grew its stake in shares of Clearwater Paper by 3.7% in the fourth quarter. BlackRock Inc. now owns 2,100,408 shares of the basic materials company’s stock worth $95,359,000 after acquiring an additional 74,432 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Clearwater Paper by 2.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,351,987 shares of the basic materials company’s stock worth $66,586,000 after acquiring an additional 35,387 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Clearwater Paper by 33.8% in the third quarter. Prudential Financial Inc. now owns 127,048 shares of the basic materials company’s stock worth $6,257,000 after acquiring an additional 32,120 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Clearwater Paper by 19.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 193,339 shares of the basic materials company’s stock worth $8,778,000 after acquiring an additional 30,921 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Clearwater Paper in the fourth quarter worth $1,337,000. Institutional investors and hedge funds own 87.63% of the company’s stock.
In other news, VP Michael S. Gadd sold 5,368 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $37.68, for a total value of $202,266.24. Following the sale, the vice president now owns 11,712 shares in the company, valued at $441,308.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.41% of the company’s stock.
Clearwater Paper (NYSE:CLW) last announced its quarterly earnings data on Monday, February 5th. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.01). The company had revenue of $436.70 million during the quarter, compared to analyst estimates of $431.04 million. Clearwater Paper had a return on equity of 7.12% and a net margin of 5.63%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 EPS. research analysts expect that Clearwater Paper Corp will post 3.2 EPS for the current year.
Several brokerages have recently issued reports on CLW. Royal Bank of Canada lowered their price objective on shares of Clearwater Paper from $47.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 6th. Zacks Investment Research downgraded shares of Clearwater Paper from a “buy” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Clearwater Paper presently has an average rating of “Hold” and an average target price of $43.00.
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About Clearwater Paper
Clearwater Paper Corporation manufactures consumer tissue, away-from-home (AFH) tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The Company operates through two segments: Consumer Products segment, and Pulp and Paperboard segment. The Company’s Consumer Products segment manufactures and sells a line of at-home tissue products, as well as AFH products.
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