Clearwater Paper (NYSE:CLW) Issues Earnings Results

Clearwater Paper (NYSE:CLW) released its quarterly earnings data on Wednesday. The basic materials company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.08, FiscalAI reports. Clearwater Paper had a negative return on equity of 3.65% and a net margin of 9.14%.The company had revenue of $386.40 million for the quarter, compared to the consensus estimate of $379.00 million.

Clearwater Paper Price Performance

Shares of Clearwater Paper stock traded up $0.22 during trading on Wednesday, reaching $16.78. The company’s stock had a trading volume of 213,793 shares, compared to its average volume of 208,635. The stock has a 50-day moving average price of $18.19 and a two-hundred day moving average price of $19.35. The stock has a market capitalization of $269.18 million, a P/E ratio of 2.00 and a beta of 0.20. The company has a current ratio of 2.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.43. Clearwater Paper has a one year low of $16.44 and a one year high of $30.96.

Wall Street Analysts Forecast Growth

CLW has been the subject of several analyst reports. Royal Bank Of Canada cut their target price on Clearwater Paper from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of Clearwater Paper in a report on Monday, December 29th. Truist Financial assumed coverage on shares of Clearwater Paper in a report on Tuesday, January 20th. They issued a “hold” rating and a $21.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Clearwater Paper from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $27.75.

Insiders Place Their Bets

In other news, VP Steve M. Bowden sold 8,889 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $18.14, for a total transaction of $161,246.46. Following the transaction, the vice president directly owned 68,516 shares in the company, valued at approximately $1,242,880.24. This represents a 11.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.55% of the company’s stock.

Institutional Trading of Clearwater Paper

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC boosted its stake in Clearwater Paper by 158.1% during the 4th quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company’s stock worth $6,278,000 after acquiring an additional 221,029 shares during the last quarter. UBS Group AG raised its holdings in Clearwater Paper by 228.3% in the third quarter. UBS Group AG now owns 258,186 shares of the basic materials company’s stock worth $5,360,000 after purchasing an additional 179,539 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Clearwater Paper by 33.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,953 shares of the basic materials company’s stock worth $9,708,000 after purchasing an additional 139,013 shares during the period. Renaissance Technologies LLC bought a new position in shares of Clearwater Paper during the fourth quarter worth $1,989,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Clearwater Paper by 119.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 131,524 shares of the basic materials company’s stock valued at $2,289,000 after buying an additional 71,656 shares during the period. 89.98% of the stock is owned by institutional investors.

About Clearwater Paper

Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.

The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.