52,997 Shares in Clearwater Paper Corporation $CLW Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 52,997 Clearwater Paper shares in the second quarter, valued at approximately $831,000, giving it a 0.33% stake. Institutional investors and hedge funds collectively own 89.98% of the company.
• Analysts maintain a generally cautious outlook, with one Buy, six Hold, and one Sell rating. Clearwater Paper has a consensus Hold rating and an average price target of $19.50.
• Clearwater Paper shares opened at $20.23, near the consensus target, while the company reported a quarterly loss of $1.75 per share—worse than the $1.49 expected—and analysts forecast a full-year loss of $2.95 per share.

Bank of New York Mellon Corp acquired a new position in Clearwater Paper Corporation (NYSE:CLW - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,997 shares of the basic materials company's stock, valued at approximately $831,000. Bank of New York Mellon Corp owned approximately 0.33% of Clearwater Paper as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CLW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Clearwater Paper by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,629 shares of the basic materials company's stock worth $244,000 after acquiring an additional 390 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Clearwater Paper by 34.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company's stock worth $60,000 after acquiring an additional 563 shares during the period. Verition Fund Management LLC raised its stake in Clearwater Paper by 4.1% during the fourth quarter. Verition Fund Management LLC now owns 15,900 shares of the basic materials company's stock worth $277,000 after acquiring an additional 631 shares during the period. Deutsche Bank AG lifted its holdings in Clearwater Paper by 7.0% in the fourth quarter. Deutsche Bank AG now owns 12,319 shares of the basic materials company's stock worth $214,000 after acquiring an additional 802 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Clearwater Paper by 26.4% in the second quarter. Versant Capital Management Inc now owns 4,627 shares of the basic materials company's stock worth $73,000 after acquiring an additional 965 shares during the last quarter. 89.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CLW shares. Zacks Research upgraded shares of Clearwater Paper to a "hold" rating in a research report on Monday, July 6th. TD Securities reaffirmed a "hold" rating and set a $20.00 target price on shares of Clearwater Paper in a research note on Wednesday, July 29th. Truist Financial boosted their price target on Clearwater Paper from $12.00 to $17.00 and gave the stock a "hold" rating in a research report on Wednesday, July 15th. Wall Street Zen lowered Clearwater Paper from a "hold" rating to a "sell" rating in a research report on Sunday, June 28th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Clearwater Paper in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $19.50.

Clearwater Paper Price Performance

Shares of CLW stock opened at $20.23 on Friday. The firm has a fifty day moving average of $19.58 and a 200-day moving average of $16.50. Clearwater Paper Corporation has a 12-month low of $11.73 and a 12-month high of $23.59. The company has a quick ratio of 1.17, a current ratio of 2.29 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $326.36 million, a price-to-earnings ratio of -6.66 and a beta of 0.22.

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

About Clearwater Paper

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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