Allianz Asset Management GmbH Has $671,000 Holdings in Clearwater Paper Corporation (NYSE:CLW)

Key Points

• Allianz Asset Management GmbH significantly reduced its holdings in Clearwater Paper Corporation by 84.2%, owning 26,458 shares valued at approximately $671,000 as of the last reporting period.
• Analysts have recently downgraded Clearwater Paper's stock, with Wall Street Zen changing its rating from "hold" to "sell" and the Royal Bank of Canada lowering its price target from $37.00 to $36.00 while maintaining an "outperform" rating.
• Clearwater Paper reported a net income miss in its latest quarterly results, with earnings per share at $0.22, falling short of the consensus estimate of $0.73.

Allianz Asset Management GmbH decreased its holdings in Clearwater Paper Corporation (NYSE:CLW - Free Report) by 84.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,458 shares of the basic materials company's stock after selling 140,752 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.16% of Clearwater Paper worth $671,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Clearwater Paper in the first quarter worth $239,000. KLP Kapitalforvaltning AS bought a new stake in shares of Clearwater Paper in the fourth quarter worth $378,000. D. E. Shaw & Co. Inc. grew its stake in shares of Clearwater Paper by 101.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 388,339 shares of the basic materials company's stock worth $11,561,000 after purchasing an additional 195,487 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Clearwater Paper in the fourth quarter worth $5,418,000. Finally, Sei Investments Co. bought a new stake in shares of Clearwater Paper in the fourth quarter worth $2,010,000. Institutional investors own 89.98% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wall Street Zen cut shares of Clearwater Paper from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Royal Bank Of Canada cut their price target on shares of Clearwater Paper from $37.00 to $36.00 and set an "outperform" rating on the stock in a research report on Wednesday.

Clearwater Paper Trading Down 1.1%

CLW traded down $0.26 during trading on Friday, reaching $22.30. 361,206 shares of the stock traded hands, compared to its average volume of 222,673. The company has a quick ratio of 0.80, a current ratio of 1.97 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $359.06 million, a PE ratio of 1.85 and a beta of 0.08. The stock's 50-day moving average is $28.46 and its 200 day moving average is $27.50. Clearwater Paper Corporation has a 12 month low of $21.93 and a 12 month high of $53.12.

Clearwater Paper (NYSE:CLW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The basic materials company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.51). The firm had revenue of $391.80 million for the quarter, compared to the consensus estimate of $397.00 million. Clearwater Paper had a net margin of 12.98% and a negative return on equity of 4.11%.

About Clearwater Paper

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.