Victory Capital Management Inc. Sells 19,886 Shares of Clearwater Paper Corporation (NYSE:CLW)

Key Points

• Victory Capital Management Inc. has reduced its holdings in Clearwater Paper Corporation by 32.1%, now owning approximately 0.26% of the company valued at $1,068,000.
• Analysts have recently downgraded Clearwater Paper from a "hold" rating to a "sell" rating, with Royal Bank of Canada lowering its price target from $37.00 to $36.00.
• Clearwater Paper reported $0.22 EPS for the last quarter, missing the consensus estimate significantly, alongside revenue of $391.80 million against expectations of $397.00 million.

Victory Capital Management Inc. lowered its position in Clearwater Paper Corporation (NYSE:CLW - Free Report) by 32.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,104 shares of the basic materials company's stock after selling 19,886 shares during the period. Victory Capital Management Inc. owned approximately 0.26% of Clearwater Paper worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CLW. SummerHaven Investment Management LLC raised its holdings in shares of Clearwater Paper by 2.7% in the first quarter. SummerHaven Investment Management LLC now owns 17,056 shares of the basic materials company's stock worth $433,000 after buying an additional 448 shares during the period. Barclays PLC grew its position in Clearwater Paper by 2.9% in the 4th quarter. Barclays PLC now owns 27,920 shares of the basic materials company's stock valued at $830,000 after acquiring an additional 781 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Clearwater Paper by 2.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,038 shares of the basic materials company's stock worth $1,341,000 after purchasing an additional 877 shares during the period. Turtle Creek Asset Management Inc. lifted its position in shares of Clearwater Paper by 12.2% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 9,200 shares of the basic materials company's stock worth $274,000 after purchasing an additional 1,000 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of Clearwater Paper by 17.2% during the first quarter. D.A. Davidson & CO. now owns 10,200 shares of the basic materials company's stock valued at $259,000 after purchasing an additional 1,500 shares during the period. Institutional investors own 89.98% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on CLW shares. Wall Street Zen downgraded shares of Clearwater Paper from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Royal Bank Of Canada reduced their target price on shares of Clearwater Paper from $37.00 to $36.00 and set an "outperform" rating on the stock in a research report on Wednesday.

Clearwater Paper Trading Down 1.1%

CLW traded down $0.26 during trading on Friday, hitting $22.30. 361,206 shares of the stock were exchanged, compared to its average volume of 262,175. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.80 and a current ratio of 1.97. The firm has a 50 day simple moving average of $28.60 and a 200 day simple moving average of $27.56. The firm has a market cap of $362.63 million, a price-to-earnings ratio of 1.85 and a beta of 0.10. Clearwater Paper Corporation has a 1 year low of $21.93 and a 1 year high of $53.12.

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

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.