Renaissance Technologies LLC Purchases 122,815 Shares of Clearwater Paper Corporation $CLW

Key Points

• Renaissance Technologies more than doubled its Clearwater Paper stake in the first quarter, purchasing 122,815 additional shares for a total of 237,115 shares valued at approximately $3.41 million. Institutional investors collectively own nearly 90% of the company.
• Analyst sentiment remains mixed, with Clearwater Paper holding a consensus “Hold” rating and an average price target of $18.50; ratings range from “Buy” to “Sell.”
• Clearwater Paper opened at $23.30, near its 12-month high of $23.59, despite reporting a quarterly EPS loss of $1.75 that missed estimates and posting negative net margin and return on equity.

Renaissance Technologies LLC boosted its holdings in shares of Clearwater Paper Corporation (NYSE:CLW - Free Report) by 107.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,115 shares of the basic materials company's stock after buying an additional 122,815 shares during the period. Renaissance Technologies LLC owned about 1.47% of Clearwater Paper worth $3,410,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CLW. Meeder Asset Management Inc. bought a new position in shares of Clearwater Paper during the 4th quarter worth about $47,000. Group One Trading LLC increased its stake in Clearwater Paper by 184.4% in the first quarter. Group One Trading LLC now owns 3,572 shares of the basic materials company's stock valued at $51,000 after acquiring an additional 2,316 shares during the period. Tower Research Capital LLC TRC increased its stake in Clearwater Paper by 34.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company's stock valued at $60,000 after acquiring an additional 563 shares during the period. BNP Paribas Financial Markets raised its position in Clearwater Paper by 608.8% in the second quarter. BNP Paribas Financial Markets now owns 6,585 shares of the basic materials company's stock worth $179,000 after purchasing an additional 5,656 shares in the last quarter. Finally, Caxton Associates LLP acquired a new position in Clearwater Paper in the first quarter worth about $204,000. Institutional investors own 89.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CLW shares. TD Cowen downgraded Clearwater Paper from a "buy" rating to a "hold" rating and set a $17.00 price objective on the stock. in a report on Wednesday, April 29th. Bank of America assumed coverage on Clearwater Paper in a report on Thursday, July 2nd. They issued a "buy" rating and a $19.00 target price for the company. Royal Bank Of Canada restated an "outperform" rating and set a $21.00 target price on shares of Clearwater Paper in a research report on Wednesday, July 29th. Wall Street Zen lowered Clearwater Paper from a "hold" rating to a "sell" rating in a research note on Sunday, June 28th. Finally, TD Securities reiterated a "hold" rating and issued a $20.00 price target on shares of Clearwater Paper in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Clearwater Paper has a consensus rating of "Hold" and an average price target of $18.50.

Clearwater Paper Price Performance

NYSE:CLW opened at $23.30 on Friday. The firm has a market cap of $375.83 million, a PE ratio of -7.66 and a beta of 0.24. Clearwater Paper Corporation has a 12 month low of $11.73 and a 12 month high of $23.59. The company has a quick ratio of 1.17, a current ratio of 2.29 and a debt-to-equity ratio of 0.45. The company's 50-day moving average price is $17.23 and its two-hundred day moving average price is $15.87.

Clearwater Paper (NYSE:CLW - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The basic materials company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($1.49) by ($0.26). The firm had revenue of $374.80 million for the quarter, compared to the consensus estimate of $374.80 million. Clearwater Paper had a negative return on equity of 7.95% and a negative net margin of 3.24%. On average, equities analysts anticipate that Clearwater Paper Corporation will post -2.95 EPS for the current fiscal year.

Clearwater Paper Profile

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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