Allianz Asset Management GmbH Trims Stock 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 lessened its holdings in shares of Clearwater Paper Corporation (NYSE:CLW - Free Report) by 84.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Elite Financial Inc. purchased a new stake in Clearwater Paper during the 1st quarter valued at about $74,000. GAMMA Investing LLC grew its holdings in Clearwater Paper by 2,384.8% during the 1st quarter. GAMMA Investing LLC now owns 3,603 shares of the basic materials company's stock valued at $91,000 after buying an additional 3,458 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Clearwater Paper by 5,906.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 4,985 shares of the basic materials company's stock valued at $126,000 after buying an additional 4,902 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Clearwater Paper in the first quarter worth $152,000. Finally, Graham Capital Management L.P. bought a new position in Clearwater Paper during the fourth quarter valued at $238,000. 89.98% of the stock is currently owned by institutional investors.

Clearwater Paper Trading Up 0.9%

NYSE:CLW traded up $0.19 during trading hours on Tuesday, hitting $22.31. The company had a trading volume of 120,834 shares, compared to its average volume of 261,183. The company has a 50-day moving average of $28.33 and a 200 day moving average of $27.42. The company has a current ratio of 1.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.39. The company has a market cap of $359.31 million, a P/E ratio of 1.85 and a beta of 0.08. Clearwater Paper Corporation has a 1 year low of $21.55 and a 1 year high of $49.92.

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

Wall Street Analyst Weigh In

CLW has been the subject of several recent analyst reports. Royal Bank Of Canada dropped their price objective on shares of Clearwater Paper from $37.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Wall Street Zen lowered Clearwater Paper from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th.

Clearwater Paper 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.