Clearwater Paper Co. (NYSE:CLW) Stock Position Raised by Millennium Management LLC

Millennium Management LLC lifted its stake in Clearwater Paper Co. (NYSE:CLW - Free Report) by 1,102.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 429,264 shares of the basic materials company's stock after purchasing an additional 393,572 shares during the quarter. Millennium Management LLC owned 2.59% of Clearwater Paper worth $12,779,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of Clearwater Paper in the 4th quarter valued at $217,000. Cornerstone Investment Partners LLC acquired a new position in shares of Clearwater Paper in the 4th quarter valued at $226,000. Graham Capital Management L.P. acquired a new position in shares of Clearwater Paper in the 4th quarter valued at $238,000. Aquatic Capital Management LLC boosted its position in shares of Clearwater Paper by 58.6% in the 4th quarter. Aquatic Capital Management LLC now owns 8,078 shares of the basic materials company's stock valued at $240,000 after purchasing an additional 2,984 shares during the period. Finally, D.A. Davidson & CO. boosted its position in shares of Clearwater Paper by 10.1% in the 4th quarter. D.A. Davidson & CO. now owns 8,700 shares of the basic materials company's stock valued at $259,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 89.98% of the company's stock.

Insiders Place Their Bets

In other Clearwater Paper news, SVP Kari G. Moyes sold 1,132 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.98, for a total transaction of $27,145.36. Following the completion of the sale, the senior vice president now directly owns 81,439 shares in the company, valued at approximately $1,952,907.22. This trade represents a 1.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.55% of the company's stock.

Clearwater Paper Stock Down 1.2%

NYSE CLW traded down $0.37 during trading on Thursday, reaching $29.48. 22,320 shares of the company's stock were exchanged, compared to its average volume of 280,933. Clearwater Paper Co. has a fifty-two week low of $22.58 and a fifty-two week high of $57.13. The firm has a market capitalization of $479.15 million, a PE ratio of 2.51 and a beta of 0.16. The company has a current ratio of 1.70, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33. The company's fifty day simple moving average is $26.18 and its 200-day simple moving average is $27.28.

Clearwater Paper (NYSE:CLW - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The basic materials company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.53). Clearwater Paper had a negative return on equity of 1.87% and a net margin of 10.54%. The business had revenue of $378.20 million for the quarter, compared to analyst estimates of $387.00 million.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CLW shares. Wall Street Zen upgraded Clearwater Paper from a "sell" rating to a "hold" rating in a research report on Monday, February 17th. Royal Bank of Canada reiterated an "outperform" rating and issued a $37.00 price target on shares of Clearwater Paper in a research report on Tuesday, February 18th.

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.