Clearwater Paper Co. (NYSE:CLW) Sees Large Drop in Short Interest

Clearwater Paper Co. (NYSE:CLW) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 389,800 shares, a decline of 60.6% from the December 15th total of 988,200 shares. Approximately 2.4% of the shares of the stock are short sold. Based on an average trading volume of 464,600 shares, the short-interest ratio is presently 0.8 days.

Analysts Set New Price Targets

CLW has been the subject of a number of recent analyst reports. StockNews.com cut Clearwater Paper from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 target price on shares of Clearwater Paper in a research note on Tuesday, November 5th.

Institutional Investors Weigh In On Clearwater Paper

A number of institutional investors and hedge funds have recently made changes to their positions in CLW. Barclays PLC increased its position in Clearwater Paper by 339.6% in the third quarter. Barclays PLC now owns 27,139 shares of the basic materials company’s stock worth $774,000 after purchasing an additional 20,966 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Clearwater Paper during the 3rd quarter worth approximately $877,000. Readystate Asset Management LP bought a new stake in shares of Clearwater Paper during the third quarter worth approximately $1,978,000. HighTower Advisors LLC lifted its holdings in Clearwater Paper by 124.0% in the third quarter. HighTower Advisors LLC now owns 12,400 shares of the basic materials company’s stock valued at $361,000 after buying an additional 6,865 shares during the period. Finally, Cinctive Capital Management LP bought a new position in Clearwater Paper in the third quarter valued at approximately $815,000. Institutional investors own 89.98% of the company’s stock.

Clearwater Paper Price Performance

CLW opened at $29.01 on Tuesday. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.78 and a quick ratio of 1.13. The stock has a market capitalization of $480.64 million, a P/E ratio of 33.73 and a beta of 0.32. The company’s 50 day simple moving average is $27.68 and its 200-day simple moving average is $33.00. Clearwater Paper has a one year low of $23.97 and a one year high of $57.13.

Clearwater Paper announced that its board has approved a stock buyback plan on Monday, November 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the basic materials company to purchase up to 23.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Clearwater Paper Company 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.