1,262,006 Shares in Clearwater Paper Corporation $CLW Bought by BlackRock Inc.

Key Points

• BlackRock acquired 1,262,006 Clearwater Paper shares worth approximately $19.8 million in the second quarter, giving it a 7.82% stake. Institutional investors collectively own 89.98% of the company.
• Clearwater Paper reported a quarterly loss of $1.75 per share, missing analysts’ estimate of a $1.49 loss, while revenue matched expectations at $374.8 million.
• Analysts maintain a generally cautious outlook, with the stock carrying a consensus “Hold” rating and an average price target of $18.50; shares recently traded at $20.90.

BlackRock Inc. purchased a new position in Clearwater Paper Corporation (NYSE:CLW - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,262,006 shares of the basic materials company's stock, valued at approximately $19,788,000. BlackRock Inc. owned 7.82% of Clearwater Paper at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG acquired a new position in shares of Clearwater Paper during the second quarter valued at about $242,000. Bank of New York Mellon Corp acquired a new stake in shares of Clearwater Paper in the 2nd quarter valued at about $831,000. Marquette Asset Management LLC bought a new stake in Clearwater Paper in the 2nd quarter valued at about $612,000. Assenagon Asset Management S.A. increased its position in Clearwater Paper by 26.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 144,392 shares of the basic materials company's stock valued at $2,264,000 after buying an additional 30,379 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in Clearwater Paper by 26.4% during the 2nd quarter. Versant Capital Management Inc now owns 4,627 shares of the basic materials company's stock worth $73,000 after buying an additional 965 shares during the period. 89.98% of the stock is owned by institutional investors.

Clearwater Paper Trading Up 0.6%

Shares of Clearwater Paper stock opened at $20.90 on Thursday. The company has a market capitalization of $337.08 million, a P/E ratio of -6.87 and a beta of 0.22. The stock has a fifty day simple moving average of $18.99 and a 200 day simple moving average of $16.32. Clearwater Paper Corporation has a 12-month low of $11.73 and a 12-month high of $23.59. The company has a current ratio of 2.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.45.

Clearwater Paper (NYSE:CLW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The basic materials company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.49) by ($0.26). Clearwater Paper had a negative return on equity of 7.95% and a negative net margin of 3.24%.The firm had revenue of $374.80 million for the quarter, compared to analysts' expectations of $374.80 million. On average, sell-side analysts anticipate that Clearwater Paper Corporation will post -2.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on CLW. Royal Bank Of Canada reissued an "outperform" rating and issued a $21.00 price objective on shares of Clearwater Paper in a research note on Wednesday, July 29th. Bank of America started coverage on Clearwater Paper in a report on Thursday, July 2nd. They issued a "buy" rating and a $19.00 target price on the stock. Truist Financial boosted their price target on shares of Clearwater Paper from $12.00 to $17.00 and gave the company a "hold" rating in a research note on Wednesday, July 15th. Zacks Research upgraded shares of Clearwater Paper to a "hold" rating in a research note on Monday, July 6th. Finally, TD Securities reaffirmed a "hold" rating and issued a $20.00 price objective on shares of Clearwater Paper in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $18.50.

Clearwater Paper Company Profile

Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.

The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.

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