Legal & General Group Plc Sells 29,214 Shares of Clearwater Paper Co. (NYSE:CLW)

Legal & General Group Plc decreased its holdings in Clearwater Paper Co. (NYSE:CLW - Free Report) by 61.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,317 shares of the basic materials company's stock after selling 29,214 shares during the quarter. Legal & General Group Plc owned 0.11% of Clearwater Paper worth $545,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CLW. D.A. Davidson & CO. increased its stake in 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 buying an additional 800 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Clearwater Paper by 26.2% during the fourth quarter. Wells Fargo & Company MN now owns 10,495 shares of the basic materials company's stock valued at $312,000 after acquiring an additional 2,176 shares during the last quarter. Woodmont Investment Counsel LLC lifted its holdings in Clearwater Paper by 6.1% during the fourth quarter. Woodmont Investment Counsel LLC now owns 37,662 shares of the basic materials company's stock worth $1,121,000 after acquiring an additional 2,180 shares during the period. Exchange Traded Concepts LLC boosted its position in Clearwater Paper by 4.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 58,426 shares of the basic materials company's stock worth $1,739,000 after purchasing an additional 2,404 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Clearwater Paper by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 386,976 shares of the basic materials company's stock valued at $11,523,000 after purchasing an additional 4,973 shares during the period. Institutional investors and hedge funds own 89.98% of the company's stock.

Insider Transactions at Clearwater Paper

In related news, SVP Kari G. Moyes sold 2,778 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.72, for a total value of $74,228.16. Following the completion of the transaction, the senior vice president now directly owns 83,799 shares in the company, valued at approximately $2,239,109.28. The trade was a 3.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.55% of the company's stock.

Clearwater Paper Stock Performance

Shares of CLW traded down $0.23 during mid-day trading on Thursday, hitting $26.63. The stock had a trading volume of 356,959 shares, compared to its average volume of 310,081. Clearwater Paper Co. has a 52 week low of $22.58 and a 52 week high of $57.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.70 and a quick ratio of 0.90. The business has a fifty day moving average price of $24.90 and a 200-day moving average price of $27.16. The firm has a market cap of $432.47 million, a P/E ratio of 2.27 and a beta of 0.22.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CLW. StockNews.com raised shares of Clearwater Paper from a "sell" rating to a "hold" rating in a report on Monday, February 17th. Royal Bank of Canada reiterated an "outperform" rating and issued a $37.00 target price on shares of Clearwater Paper in a research note 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.