Meeder Asset Management Inc. Makes New $211,000 Investment in Clearwater Paper Co. (NYSE:CLW)

Meeder Asset Management Inc. purchased a new position in Clearwater Paper Co. (NYSE:CLW) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,819 shares of the basic materials company’s stock, valued at approximately $211,000.

A number of other hedge funds have also modified their holdings of the company. American Century Companies Inc. lifted its holdings in shares of Clearwater Paper by 8.9% in the third quarter. American Century Companies Inc. now owns 284,146 shares of the basic materials company’s stock worth $10,300,000 after buying an additional 23,231 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Clearwater Paper in the fourth quarter worth $397,000. New York State Teachers Retirement System lifted its holdings in shares of Clearwater Paper by 2.5% in the fourth quarter. New York State Teachers Retirement System now owns 36,120 shares of the basic materials company’s stock worth $1,305,000 after buying an additional 897 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Clearwater Paper by 1,464.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,394 shares of the basic materials company’s stock worth $448,000 after buying an additional 11,602 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Clearwater Paper in the fourth quarter worth $300,000. 89.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada boosted their target price on shares of Clearwater Paper from $41.00 to $42.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 30th.

Clearwater Paper Price Performance

Clearwater Paper stock traded down $0.05 during mid-day trading on Monday, reaching $46.68. 139,600 shares of the company’s stock traded hands, compared to its average volume of 171,150. The company has a market cap of $778.62 million, a price-to-earnings ratio of 7.81 and a beta of 0.40. The stock has a 50 day moving average of $49.88 and a two-hundred day moving average of $42.35. The company has a quick ratio of 0.82, a current ratio of 1.91 and a debt-to-equity ratio of 0.65. Clearwater Paper Co. has a 12-month low of $31.38 and a 12-month high of $53.77.

Clearwater Paper (NYSE:CLW) last released its quarterly earnings results on Monday, April 29th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.32. The company had revenue of $496.20 million for the quarter. Clearwater Paper had a net margin of 4.92% and a return on equity of 17.35%. During the same period in the previous year, the company earned $1.47 EPS.

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.