Assenagon Asset Management S.A. Cuts Stake in Clearwater Paper Co. (NYSE:CLW)

Assenagon Asset Management S.A. decreased its stake in Clearwater Paper Co. (NYSE:CLW) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,180 shares of the basic materials company’s stock after selling 1,599 shares during the period. Assenagon Asset Management S.A.’s holdings in Clearwater Paper were worth $1,434,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CLW. Pacer Advisors Inc. increased its stake in Clearwater Paper by 45.2% during the 3rd quarter. Pacer Advisors Inc. now owns 1,887,015 shares of the basic materials company’s stock worth $53,855,000 after buying an additional 587,043 shares during the period. Readystate Asset Management LP purchased a new stake in shares of Clearwater Paper during the third quarter worth about $1,978,000. Intech Investment Management LLC purchased a new stake in shares of Clearwater Paper during the third quarter worth about $1,043,000. Wedge Capital Management L L P NC lifted its stake in shares of Clearwater Paper by 33.6% in the third 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. Finally, Y Intercept Hong Kong Ltd purchased a new position in Clearwater Paper in the third quarter valued at about $877,000. Institutional investors and hedge funds own 89.98% of the company’s stock.

Analyst Upgrades and Downgrades

CLW has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Clearwater Paper in a report on Tuesday, November 5th. StockNews.com lowered shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th.

Clearwater Paper Stock Up 0.4 %

Clearwater Paper stock opened at $30.88 on Friday. The company’s 50-day moving average price is $28.16 and its two-hundred day moving average price is $32.26. The stock has a market cap of $511.55 million, a price-to-earnings ratio of 35.90 and a beta of 0.32. Clearwater Paper Co. has a 52 week low of $23.97 and a 52 week high of $57.13. 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 declared that its board has authorized a stock repurchase program on Monday, November 4th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the basic materials company to purchase up to 23.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is 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.