Clearwater Paper Co. (NYSE:CLW) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC grew its position in Clearwater Paper Co. (NYSE:CLW) by 124.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,400 shares of the basic materials company’s stock after acquiring an additional 6,865 shares during the quarter. HighTower Advisors LLC’s holdings in Clearwater Paper were worth $361,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CLW. Louisiana State Employees Retirement System grew its stake in Clearwater Paper by 2.4% during the second quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the basic materials company’s stock worth $407,000 after buying an additional 200 shares during the period. Innealta Capital LLC purchased a new stake in Clearwater Paper during the 2nd quarter worth $52,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Clearwater Paper by 2.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,161 shares of the basic materials company’s stock worth $1,260,000 after purchasing an additional 1,117 shares in the last quarter. PEAK6 Investments LLC boosted its position in shares of Clearwater Paper by 15.5% in the third quarter. PEAK6 Investments LLC now owns 9,127 shares of the basic materials company’s stock worth $260,000 after buying an additional 1,227 shares during the period. Finally, D.A. Davidson & CO. grew its stake in shares of Clearwater Paper by 23.4% in the third quarter. D.A. Davidson & CO. now owns 7,900 shares of the basic materials company’s stock valued at $225,000 after buying an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $37.00 price objective on shares of Clearwater Paper in a research note on Tuesday, November 5th.

Clearwater Paper Stock Up 22.5 %

Shares of Clearwater Paper stock opened at $30.26 on Monday. The stock has a market capitalization of $501.35 million, a price-to-earnings ratio of 35.19 and a beta of 0.33. The business’s 50 day simple moving average is $26.76 and its 200-day simple moving average is $35.43. The company has a current ratio of 1.78, a quick ratio of 1.13 and a debt-to-equity ratio of 1.72. Clearwater Paper Co. has a twelve month low of $23.97 and a twelve month high of $57.13.

Clearwater Paper announced that its Board of Directors has initiated a share repurchase program on Monday, November 4th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 23.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.