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

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

Clearwater Paper Stock Performance

NYSE CLW opened at $29.31 on Thursday. The company’s 50 day moving average is $27.70 and its 200-day moving average is $32.84. Clearwater Paper has a 12-month low of $23.97 and a 12-month high of $57.13. The company has a quick ratio of 1.13, a current ratio of 1.78 and a debt-to-equity ratio of 1.72. The firm has a market cap of $485.67 million, a P/E ratio of 34.08 and a beta of 0.32.

Clearwater Paper announced that its board has initiated a stock repurchase plan on Monday, November 4th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 23.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CLW shares. StockNews.com cut shares of Clearwater Paper from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price objective on shares of Clearwater Paper in a report on Tuesday, November 5th.

Hedge Funds Weigh In On Clearwater Paper

Hedge funds have recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in Clearwater Paper during the third quarter valued at approximately $74,000. DekaBank Deutsche Girozentrale purchased a new position in Clearwater Paper during the second quarter valued at approximately $153,000. Caxton Associates LP purchased a new position in Clearwater Paper during the second quarter valued at approximately $200,000. Arizona State Retirement System purchased a new position in Clearwater Paper in the 2nd quarter worth approximately $225,000. Finally, BOKF NA purchased a new position in Clearwater Paper in the 2nd quarter worth approximately $314,000. Hedge funds and other institutional investors own 89.98% of the company’s stock.

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.