Peregrine Capital Management LLC Takes $4.33 Million Position in Clearwater Paper Co. (NYSE:CLW)

Peregrine Capital Management LLC acquired a new position in shares of Clearwater Paper Co. (NYSE:CLW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 145,393 shares of the basic materials company’s stock, valued at approximately $4,328,000. Peregrine Capital Management LLC owned about 0.88% of Clearwater Paper as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CLW. Paloma Partners Management Co bought a new position in Clearwater Paper in the 3rd quarter worth approximately $209,000. D.A. Davidson & CO. increased its position in Clearwater Paper by 23.4% in the 3rd quarter. D.A. Davidson & CO. now owns 7,900 shares of the basic materials company’s stock worth $225,000 after buying an additional 1,500 shares during the period. PEAK6 Investments LLC increased its position in Clearwater Paper by 15.5% in the 3rd quarter. PEAK6 Investments LLC now owns 9,127 shares of the basic materials company’s stock worth $260,000 after buying an additional 1,227 shares during the period. HighTower Advisors LLC increased its position in Clearwater Paper by 124.0% in the 3rd quarter. HighTower Advisors LLC now owns 12,400 shares of the basic materials company’s stock worth $361,000 after buying an additional 6,865 shares during the period. Finally, Royce & Associates LP increased its position in Clearwater Paper by 158.2% in the 3rd quarter. Royce & Associates LP now owns 25,340 shares of the basic materials company’s stock worth $723,000 after buying an additional 15,525 shares during the period. Institutional investors own 89.98% of the company’s stock.

Clearwater Paper Price Performance

Shares of NYSE:CLW opened at $28.03 on Thursday. Clearwater Paper Co. has a 1-year low of $23.97 and a 1-year high of $57.13. The firm has a market capitalization of $464.37 million, a PE ratio of 2.39 and a beta of 0.35. The business’s 50 day moving average is $29.59 and its 200-day moving average is $29.36. The company has a current ratio of 1.70, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings data on Thursday, February 13th. The basic materials company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.84). Clearwater Paper had a negative return on equity of 1.87% and a net margin of 10.54%.

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

Wall Street Analyst Weigh In

Several brokerages have commented on CLW. StockNews.com raised Clearwater Paper from a “sell” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Clearwater Paper in a research report on Tuesday.

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.