Empowered Funds LLC Cuts Stock Position in Clearwater Paper Corporation $CLW

Key Points

• Empowered Funds LLC cut its Clearwater Paper stake by 45.4% in the first quarter, selling 66,491 shares and retaining 80,101 shares valued at approximately $1.15 million. Institutional investors collectively own 89.98% of CLW.
• Analyst sentiment remains mixed, with two Buy, five Hold and one Sell rating; the consensus is Hold with an average price target of $18.50.
• Clearwater Paper reported a quarterly loss of $1.75 per share, missing estimates by $0.26, while revenue matched expectations at $374.8 million. Shares recently traded at $23.30, near their 12-month high of $23.59.

Empowered Funds LLC lessened its stake in shares of Clearwater Paper Corporation (NYSE:CLW - Free Report) by 45.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,101 shares of the basic materials company's stock after selling 66,491 shares during the period. Empowered Funds LLC owned approximately 0.50% of Clearwater Paper worth $1,152,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CLW. Charles Schwab Investment Management Inc. grew its stake in shares of Clearwater Paper by 33.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,953 shares of the basic materials company's stock worth $9,708,000 after acquiring an additional 139,013 shares during the last quarter. Millennium Management LLC raised its position in shares of Clearwater Paper by 158.1% in the 4th quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company's stock worth $6,278,000 after purchasing an additional 221,029 shares during the last quarter. Invenomic Capital Management LP boosted its stake in Clearwater Paper by 113.0% in the 4th quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company's stock worth $5,572,000 after purchasing an additional 169,880 shares in the last quarter. Ameriprise Financial Inc. grew its position in Clearwater Paper by 7.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 303,177 shares of the basic materials company's stock valued at $8,259,000 after purchasing an additional 20,184 shares during the last quarter. Finally, UBS Group AG grew its position in Clearwater Paper by 228.3% during the 3rd quarter. UBS Group AG now owns 258,186 shares of the basic materials company's stock valued at $5,360,000 after purchasing an additional 179,539 shares during the last quarter. 89.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $21.00 target price on shares of Clearwater Paper in a report on Wednesday, July 29th. Wall Street Zen cut shares of Clearwater Paper from a "hold" rating to a "sell" rating in a report on Sunday, June 28th. Zacks Research raised shares of Clearwater Paper to a "hold" rating in a research report on Monday, July 6th. Weiss Ratings restated a "sell (d)" rating on shares of Clearwater Paper in a report on Wednesday. Finally, TD Securities reaffirmed a "hold" rating and issued a $20.00 price objective on shares of Clearwater Paper in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $18.50.

Clearwater Paper Trading Up 1.9%

Shares of CLW stock opened at $23.30 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.45. Clearwater Paper Corporation has a 12-month low of $11.73 and a 12-month high of $23.59. The stock has a market capitalization of $375.83 million, a P/E ratio of -7.66 and a beta of 0.24. The firm's 50 day moving average is $17.23 and its 200 day moving average is $15.87.

Clearwater Paper (NYSE:CLW - Get Free Report) last announced its earnings results on Tuesday, July 28th. The basic materials company reported ($1.75) earnings per share for the quarter, missing analysts' consensus estimates of ($1.49) by ($0.26). The company had revenue of $374.80 million for the quarter, compared to analysts' expectations of $374.80 million. Clearwater Paper had a negative net margin of 3.24% and a negative return on equity of 7.95%. Research analysts expect that Clearwater Paper Corporation will post -2.95 earnings per share for the current year.

About Clearwater Paper

Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.

The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.

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