JPMorgan Chase & Co. raised its stake in Clearwater Paper Corp (NYSE:CLW) by 112.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,043 shares of the basic materials company’s stock after acquiring an additional 10,075 shares during the period. JPMorgan Chase & Co. owned approximately 0.11% of Clearwater Paper worth $415,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in Clearwater Paper in the first quarter worth about $26,000. Fiduciary Counselling Inc. purchased a new position in Clearwater Paper in the first quarter worth about $44,000. Bank of Montreal Can boosted its position in Clearwater Paper by 31.2% in the fourth quarter. Bank of Montreal Can now owns 2,351 shares of the basic materials company’s stock worth $50,000 after purchasing an additional 559 shares during the last quarter. Victory Capital Management Inc. boosted its position in Clearwater Paper by 7.0% in the fourth quarter. Victory Capital Management Inc. now owns 8,072 shares of the basic materials company’s stock worth $172,000 after purchasing an additional 526 shares during the last quarter. Finally, Aperio Group LLC bought a new position in shares of Clearwater Paper in the first quarter worth about $205,000. 82.14% of the stock is currently owned by hedge funds and other institutional investors.
CLW opened at $35.39 on Wednesday. The firm has a market cap of $586.41 million, a price-to-earnings ratio of 707.94 and a beta of 1.85. The company has a current ratio of 1.79, a quick ratio of 0.97 and a debt-to-equity ratio of 2.13. Clearwater Paper Corp has a 12 month low of $11.88 and a 12 month high of $38.83. The stock has a fifty day moving average price of $32.05 and a 200-day moving average price of $25.28.
Clearwater Paper (NYSE:CLW) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.58. Clearwater Paper had a return on equity of 1.59% and a net margin of 0.05%. The company had revenue of $477.90 million for the quarter, compared to analyst estimates of $447.00 million. On average, equities research analysts forecast that Clearwater Paper Corp will post 2.63 EPS for the current year.
Several equities analysts have weighed in on the company. Cfra raised their price target on Clearwater Paper from $31.00 to $38.00 and gave the company a “strong-buy” rating in a report on Wednesday, May 6th. KeyCorp reiterated a “hold” rating on shares of Clearwater Paper in a report on Wednesday, June 10th. Royal Bank of Canada upgraded Clearwater Paper from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $20.00 to $35.00 in a report on Wednesday, May 6th. ValuEngine cut Clearwater Paper from a “buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, TheStreet upgraded Clearwater Paper from a “d” rating to a “c-” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Clearwater Paper currently has an average rating of “Buy” and a consensus target price of $33.33.
Clearwater Paper Profile
Clearwater Paper Corporation produces and sells produces and sells private label tissue and bleached paperboard products in the United States and internationally. It operates in two segments, Consumer Products, and Pulp and Paperboard. The Consumer Products segment manufactures and sells a line of at-home tissue products, including bathroom tissues, paper towels, facial tissues, and napkins; recycled fiber value grade products; and away-from-home products, such as conventional one- and two-ply bath tissues, two-ply paper towels, hard wound towels, and dispenser napkins.
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