Clearwater Paper Co. (NYSE:CLW) Sees Large Drop in Short Interest

Clearwater Paper Co. (NYSE:CLW) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 389,800 shares, a decrease of 60.6% from the December 31st total of 988,200 shares. Based on an average trading volume of 464,600 shares, the days-to-cover ratio is currently 0.8 days. Approximately 2.4% of the company’s shares are sold short.

Hedge Funds Weigh In On Clearwater Paper

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its stake in Clearwater Paper by 45.2% during the third quarter. Pacer Advisors Inc. now owns 1,887,015 shares of the basic materials company’s stock valued at $53,855,000 after acquiring an additional 587,043 shares in the last quarter. Peregrine Capital Management LLC bought a new position in shares of Clearwater Paper in the fourth quarter worth $4,328,000. Wedge Capital Management L L P NC raised its position in shares of Clearwater Paper by 14.7% in the fourth quarter. Wedge Capital Management L L P NC now owns 141,130 shares of the basic materials company’s stock worth $4,201,000 after buying an additional 18,139 shares in the last quarter. Empowered Funds LLC boosted its stake in Clearwater Paper by 5.1% during the fourth quarter. Empowered Funds LLC now owns 111,947 shares of the basic materials company’s stock valued at $3,333,000 after buying an additional 5,428 shares during the period. Finally, AQR Capital Management LLC grew its position in Clearwater Paper by 10.9% during the second quarter. AQR Capital Management LLC now owns 111,002 shares of the basic materials company’s stock worth $5,380,000 after buying an additional 10,875 shares in the last quarter. Institutional investors own 89.98% of the company’s stock.

Clearwater Paper Stock Performance

CLW stock traded down $0.20 during mid-day trading on Friday, hitting $32.17. The company had a trading volume of 207,201 shares, compared to its average volume of 313,630. Clearwater Paper has a 12 month low of $23.97 and a 12 month high of $57.13. The stock’s fifty day moving average price is $28.84 and its two-hundred day moving average price is $31.77. The firm has a market cap of $533.12 million, a PE ratio of 37.41 and a beta of 0.32. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.13 and a current ratio of 1.78.

Clearwater Paper announced that its Board of Directors has authorized a stock repurchase program on Monday, November 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the basic materials company to reacquire up to 23.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

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.