Comerica Bank Sells 28,429 Shares of Clearwater Paper Corporation $CLW

Key Points

• Comerica Bank reduced its stake in Clearwater Paper Corporation by 56.4%, selling 28,429 shares, bringing its total to 21,978 shares valued at approximately $558,000.
• Several institutional investors, including Charles Schwab Investment Management and D. E. Shaw & Co. Inc., have either raised or initiated stakes in Clearwater Paper, indicating mixed investor sentiment.
• Clearwater Paper reported an EPS of $0.22 for the last quarter, missing expectations significantly, alongside a revenue figure of $391.80 million against a $397 million forecast.

Comerica Bank cut its stake in shares of Clearwater Paper Corporation (NYSE:CLW - Free Report) by 56.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,978 shares of the basic materials company's stock after selling 28,429 shares during the period. Comerica Bank owned about 0.14% of Clearwater Paper worth $558,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CLW. BNP Paribas Financial Markets raised its stake in Clearwater Paper by 209.9% during the 4th quarter. BNP Paribas Financial Markets now owns 11,094 shares of the basic materials company's stock valued at $330,000 after buying an additional 7,514 shares during the last quarter. Bank of America Corp DE grew its position in shares of Clearwater Paper by 120.4% during the 4th quarter. Bank of America Corp DE now owns 67,554 shares of the basic materials company's stock valued at $2,011,000 after acquiring an additional 36,910 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Clearwater Paper during the 4th quarter valued at $1,948,000. Centiva Capital LP bought a new stake in shares of Clearwater Paper during the 4th quarter valued at $270,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Clearwater Paper during the 4th quarter valued at $1,061,000. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CLW has been the subject of a number of recent research reports. 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 research report on Wednesday, July 30th. Wall Street Zen downgraded shares of Clearwater Paper from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $36.00.

Clearwater Paper Price Performance

Clearwater Paper stock traded down $0.39 during mid-day trading on Friday, hitting $21.42. The stock had a trading volume of 99,414 shares, compared to its average volume of 171,556. The firm has a market capitalization of $344.86 million, a P/E ratio of 1.78 and a beta of 0.12. 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 firm's 50 day moving average is $24.46 and its 200 day moving average is $25.80. Clearwater Paper Corporation has a one year low of $20.84 and a one year high of $33.56.

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

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.