According to Zacks, “Clearwater Paper,a standalone company,produces pulp and paperboard at six facilities across the country namely Lewiston, Idaho; Las Vegas, Nev.; Elwood, Ill.; and near McGehee, Ark. The company manufactures quality paperboard, consumer tissue, and wood products.It has direct access to the public capital markets .The company is a premier supplier of private label tissue to major retail grocery chains, and also produces bleached paperboard used by quality-conscious printers and packaging converters. “
Several other research analysts have also recently weighed in on the stock. ValuEngine cut shares of Clearwater Paper from a hold rating to a sell rating in a research note on Monday, February 25th. DA Davidson dropped their price target on shares of Clearwater Paper to $44.00 and set a buy rating on the stock in a research note on Thursday, March 14th. TheStreet cut shares of Clearwater Paper from a c rating to a d rating in a research note on Wednesday, March 13th. Royal Bank of Canada dropped their price target on shares of Clearwater Paper from $24.00 to $22.00 and set a sector perform rating on the stock in a research note on Thursday, May 2nd. Finally, KeyCorp reiterated a hold rating on shares of Clearwater Paper in a research note on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $32.67.
Clearwater Paper (NYSE:CLW) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.10). Clearwater Paper had a positive return on equity of 7.76% and a negative net margin of 8.31%. The company had revenue of $428.78 million during the quarter, compared to analysts’ expectations of $422.99 million. As a group, equities analysts predict that Clearwater Paper will post -0.3 EPS for the current year.
In other Clearwater Paper news, insider Linda K. Massman purchased 5,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average price of $17.92 per share, for a total transaction of $98,560.00. Following the purchase, the insider now directly owns 243,976 shares of the company’s stock, valued at approximately $4,372,049.92. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.97% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. SEI Investments Co raised its position in shares of Clearwater Paper by 998.3% during the 1st quarter. SEI Investments Co now owns 10,599 shares of the basic materials company’s stock valued at $206,000 after purchasing an additional 9,634 shares during the period. Geode Capital Management LLC raised its position in shares of Clearwater Paper by 9.5% during the 1st quarter. Geode Capital Management LLC now owns 189,007 shares of the basic materials company’s stock valued at $3,681,000 after purchasing an additional 16,333 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Clearwater Paper by 9.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 352,292 shares of the basic materials company’s stock valued at $6,863,000 after purchasing an additional 30,114 shares during the period. Caption Management LLC bought a new stake in shares of Clearwater Paper during the 1st quarter valued at $292,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Clearwater Paper during the 1st quarter valued at $1,545,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.
Clearwater Paper Company Profile
Clearwater Paper Corporation produces and sells produces and sells private label tissue and bleached paperboard products in the United States and internationally. It operates in two segments, Consumer Products, and Pulp and Paperboard. The Consumer Products segment manufactures and sells a line of at-home tissue products, including bathroom tissues, paper towels, facial tissues, and napkins; recycled fiber value grade products; and away-from-home products, such as conventional one- and two-ply bath tissues, two-ply paper towels, hard wound towels, and dispenser napkins.
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