Clearwater Paper Co. (NYSE:CLW) Short Interest Update

Clearwater Paper Co. (NYSE:CLW) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 984,500 shares, a drop of 9.7% from the October 15th total of 1,090,000 shares. Currently, 6.1% of the company’s stock are sold short. Based on an average daily volume of 411,000 shares, the days-to-cover ratio is presently 2.4 days.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CLW shares. StockNews.com downgraded Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 price target on shares of Clearwater Paper in a report on Tuesday, November 5th.

Institutional Trading of Clearwater Paper

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC boosted its stake in Clearwater Paper by 339.6% during the 3rd quarter. Barclays PLC now owns 27,139 shares of the basic materials company’s stock valued at $774,000 after acquiring an additional 20,966 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Clearwater Paper during the third quarter worth about $877,000. Readystate Asset Management LP acquired a new position in Clearwater Paper in the third quarter worth about $1,978,000. HighTower Advisors LLC increased 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 last quarter. Finally, Cinctive Capital Management LP acquired a new stake in Clearwater Paper during the third quarter valued at approximately $815,000. 89.98% of the stock is owned by hedge funds and other institutional investors.

Clearwater Paper Price Performance

CLW opened at $24.81 on Tuesday. Clearwater Paper has a twelve month low of $24.17 and a twelve month high of $57.13. The firm has a market cap of $411.10 million, a price-to-earnings ratio of 28.85 and a beta of 0.34. The company has a current ratio of 1.78, a quick ratio of 1.13 and a debt-to-equity ratio of 1.72. The company has a fifty day simple moving average of $27.63 and a 200 day simple moving average of $39.40.

Clearwater Paper announced that its Board of Directors has authorized a stock repurchase plan on Monday, November 4th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the basic materials company to purchase up to 23.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors 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.