Clearwater Paper (NYSE:CLW) Shares Gap Down to $48.25

Clearwater Paper Co. (NYSE:CLW) shares gapped down prior to trading on Wednesday . The stock had previously closed at $48.25, but opened at $45.56. Clearwater Paper shares last traded at $43.33, with a volume of 30,613 shares traded.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lifted their price target on shares of Clearwater Paper from $42.00 to $48.00 and gave the company a “sector perform” rating in a report on Wednesday.

Clearwater Paper Price Performance

The stock has a fifty day moving average of $50.55 and a two-hundred day moving average of $44.31. The company has a current ratio of 1.91, a quick ratio of 0.82 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $675.13 million, a price-to-earnings ratio of 6.68 and a beta of 0.40.

Institutional Trading of Clearwater Paper

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Grizzlyrock Capital LLC bought a new stake in Clearwater Paper during the 4th quarter worth about $4,585,000. Acadian Asset Management LLC grew its stake in shares of Clearwater Paper by 14.2% during the first quarter. Acadian Asset Management LLC now owns 157,139 shares of the basic materials company’s stock valued at $6,867,000 after purchasing an additional 19,590 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Clearwater Paper by 64.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 29,252 shares of the basic materials company’s stock valued at $1,279,000 after purchasing an additional 11,482 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Clearwater Paper in the 4th quarter worth approximately $535,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Clearwater Paper by 780.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 109,134 shares of the basic materials company’s stock worth $4,772,000 after buying an additional 96,740 shares in the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

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.