Paloma Partners Management Co Invests $209,000 in Clearwater Paper Co. (NYSE:CLW)

Paloma Partners Management Co bought a new stake in Clearwater Paper Co. (NYSE:CLW) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,315 shares of the basic materials company’s stock, valued at approximately $209,000.

Other large investors also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake 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 purchasing an additional 587,043 shares during the period. American Century Companies Inc. boosted its position in shares of Clearwater Paper by 23.2% in the second quarter. American Century Companies Inc. now owns 495,358 shares of the basic materials company’s stock valued at $24,010,000 after acquiring an additional 93,123 shares during the period. Acadian Asset Management LLC boosted its position in shares of Clearwater Paper by 39.1% in the second quarter. Acadian Asset Management LLC now owns 218,505 shares of the basic materials company’s stock valued at $10,586,000 after acquiring an additional 61,366 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Clearwater Paper by 24.3% in the second quarter. Assenagon Asset Management S.A. now owns 219,983 shares of the basic materials company’s stock valued at $10,663,000 after acquiring an additional 42,935 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Clearwater Paper by 35.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 148,051 shares of the basic materials company’s stock worth $7,176,000 after acquiring an additional 38,917 shares during the period. Institutional investors own 89.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CLW shares. Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 price objective on shares of Clearwater Paper in a report on Tuesday, November 5th. StockNews.com downgraded shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th.

Clearwater Paper Stock Performance

NYSE:CLW opened at $26.84 on Friday. The company has a market cap of $444.60 million, a price-to-earnings ratio of 31.20 and a beta of 0.33. Clearwater Paper Co. has a fifty-two week low of $24.17 and a fifty-two week high of $57.13. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.13 and a current ratio of 1.78. The stock has a fifty day moving average price of $26.96 and a 200-day moving average price of $37.36.

Clearwater Paper announced that its board has authorized a stock buyback program on Monday, November 4th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the basic materials company to buy up to 23.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.