Clearwater Paper Co. (NYSE:CLW) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its position in Clearwater Paper Co. (NYSE:CLW) by 77.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,779 shares of the basic materials company’s stock after selling 170,204 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Clearwater Paper were worth $1,421,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CLW. Pacer Advisors Inc. raised its holdings in shares of Clearwater Paper by 26.2% in the 2nd quarter. Pacer Advisors Inc. now owns 1,299,972 shares of the basic materials company’s stock valued at $63,010,000 after purchasing an additional 269,937 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Clearwater Paper by 23.2% in the 2nd quarter. American Century Companies Inc. now owns 495,358 shares of the basic materials company’s stock valued at $24,010,000 after purchasing an additional 93,123 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Clearwater Paper by 39.1% in the 2nd quarter. Acadian Asset Management LLC now owns 218,505 shares of the basic materials company’s stock valued at $10,586,000 after purchasing an additional 61,366 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Clearwater Paper by 35.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 148,051 shares of the basic materials company’s stock valued at $7,176,000 after purchasing an additional 38,917 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in Clearwater Paper by 33.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 122,991 shares of the basic materials company’s stock worth $3,510,000 after acquiring an additional 30,921 shares in the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

Clearwater Paper Price Performance

Shares of NYSE:CLW opened at $25.81 on Friday. The company’s fifty day moving average price is $28.88 and its 200 day moving average price is $40.54. Clearwater Paper Co. has a 12 month low of $24.51 and a 12 month high of $57.13. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.73 and a quick ratio of 0.74. The firm has a market capitalization of $429.22 million, a P/E ratio of 9.63 and a beta of 0.32.

Clearwater Paper (NYSE:CLW) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported ($0.42) EPS for the quarter. The business had revenue of $586.40 million during the quarter. Clearwater Paper had a net margin of 2.16% and a return on equity of 11.56%.

Analysts Set New Price Targets

Several brokerages recently commented on CLW. Royal Bank of Canada upgraded shares of Clearwater Paper from a “sector perform” rating to an “outperform” rating and cut their price target for the stock from $48.00 to $37.00 in a research note on Friday, October 18th. StockNews.com lowered shares of Clearwater Paper from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th.

About Clearwater Paper

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through Pulp and Paperboard, and Consumer Products segments. The Pulp and Paperboard segment manufactures and markets bleached paperboard; Solid Bleached Sulfate paperboard that is used to produce folding cartons, liquid packaging, cups and plates, blister and carded packaging, and top sheet and commercial printing items; and hardwood and softwood pulp, as well as offers services that include custom sheeting, slitting, and cutting.