Insider Selling: Clearwater Paper Co. (NYSE:CLW) SVP Sells 2,778 Shares of Stock

Clearwater Paper Co. (NYSE:CLW) SVP Kari G. Moyes sold 2,778 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.72, for a total value of $74,228.16. Following the completion of the transaction, the senior vice president now directly owns 83,799 shares in the company, valued at approximately $2,239,109.28. This trade represents a 3.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Clearwater Paper Trading Down 4.0 %

NYSE:CLW traded down $1.04 during trading hours on Monday, reaching $25.12. 250,435 shares of the stock were exchanged, compared to its average volume of 311,776. Clearwater Paper Co. has a twelve month low of $23.97 and a twelve month high of $57.13. The company has a quick ratio of 0.90, a current ratio of 1.70 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average of $29.82 and a two-hundred day moving average of $28.82. The company has a market capitalization of $406.24 million, a price-to-earnings ratio of 2.14 and a beta of 0.35.

Clearwater Paper (NYSE:CLW) last posted its earnings results on Thursday, February 13th. The basic materials company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.84). Clearwater Paper had a negative return on equity of 1.87% and a net margin of 10.54%.

Clearwater Paper declared that its Board of Directors has authorized a share repurchase plan on Monday, November 4th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the basic materials company to buy up to 23.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 price objective on shares of Clearwater Paper in a report on Tuesday, February 18th. StockNews.com raised shares of Clearwater Paper from a “sell” rating to a “hold” rating in a research note on Monday, February 17th.

Institutional Investors Weigh In On Clearwater Paper

Large investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its position in Clearwater Paper by 45.2% in the 3rd quarter. Pacer Advisors Inc. now owns 1,887,015 shares of the basic materials company’s stock valued at $53,855,000 after buying an additional 587,043 shares during the period. American Century Companies Inc. boosted its holdings in Clearwater Paper by 7.3% in the fourth quarter. American Century Companies Inc. now owns 637,108 shares of the basic materials company’s stock valued at $18,967,000 after purchasing an additional 43,604 shares during the period. Millennium Management LLC boosted its holdings in Clearwater Paper by 1,102.7% in the fourth quarter. Millennium Management LLC now owns 429,264 shares of the basic materials company’s stock valued at $12,779,000 after purchasing an additional 393,572 shares during the period. D. E. Shaw & Co. Inc. grew its stake in Clearwater Paper by 101.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 388,339 shares of the basic materials company’s stock worth $11,561,000 after purchasing an additional 195,487 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Clearwater Paper by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 386,976 shares of the basic materials company’s stock worth $11,523,000 after purchasing an additional 4,973 shares during the period. 89.98% of the stock is owned by hedge funds and other institutional investors.

Clearwater Paper Company Profile

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.