American Century Companies Inc. Sells 39,158 Shares of Clearwater Paper Corporation $CLW

Key Points

• American Century Companies Inc. reduced its stake in Clearwater Paper Corporation by 6.1% this past quarter, now holding approximately 3.68% of the company's shares, valuing around $15.17 million.
• Clearwater Paper's stock has seen mixed analyst coverage, with an average target price of $36.00 and some analysts issuing a downgrade to "sell."
• The company recently reported earnings of $0.22 per share, significantly missing expectations by $0.51, alongside revenues of $391.80 million, below analyst estimates.

American Century Companies Inc. reduced its position in shares of Clearwater Paper Corporation (NYSE:CLW - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 597,950 shares of the basic materials company's stock after selling 39,158 shares during the period. American Century Companies Inc. owned approximately 3.68% of Clearwater Paper worth $15,170,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CLW. Nuveen LLC bought a new stake in shares of Clearwater Paper in the first quarter worth $15,314,000. Invesco Ltd. boosted its position in shares of Clearwater Paper by 0.7% during the 1st quarter. Invesco Ltd. now owns 68,191 shares of the basic materials company's stock worth $1,730,000 after purchasing an additional 501 shares in the last quarter. CenterBook Partners LP bought a new position in shares of Clearwater Paper during the 1st quarter worth about $6,029,000. Charles Schwab Investment Management Inc. boosted its position in shares of Clearwater Paper by 21.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 233,474 shares of the basic materials company's stock worth $5,923,000 after purchasing an additional 41,633 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Clearwater Paper by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 1,142,392 shares of the basic materials company's stock worth $28,982,000 after acquiring an additional 20,936 shares during the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

Clearwater Paper Trading Up 0.7%

NYSE:CLW traded up $0.15 during trading hours on Friday, reaching $21.53. The company's stock had a trading volume of 223,710 shares, compared to its average volume of 215,217. The firm has a 50-day simple moving average of $25.81 and a 200-day simple moving average of $26.22. Clearwater Paper Corporation has a 1 year low of $20.84 and a 1 year high of $34.04. The firm has a market capitalization of $346.63 million, a price-to-earnings ratio of 1.79 and a beta of 0.08. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.87 and a current ratio of 1.97.

Clearwater Paper (NYSE:CLW - Get Free Report) last announced its earnings results on Tuesday, July 29th. The basic materials company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.51). The company 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%.

Analyst Upgrades and Downgrades

Several research firms have commented on CLW. Wall Street Zen upgraded shares of Clearwater Paper from a "sell" rating to a "hold" rating in a research note on Saturday. Royal Bank Of Canada cut their price objective on shares of Clearwater Paper from $37.00 to $36.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Clearwater Paper presently has an average rating of "Buy" and a consensus target price of $36.00.

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.