Bank of New York Mellon Corp Sells 427 Shares of Clearwater Paper Co. (NYSE:CLW)

Bank of New York Mellon Corp reduced its position in shares of Clearwater Paper Co. (NYSE:CLW) by 0.3% in the second quarter, Holdings Channel reports. The firm owned 140,174 shares of the basic materials company’s stock after selling 427 shares during the quarter. Bank of New York Mellon Corp’s holdings in Clearwater Paper were worth $6,794,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Grizzlyrock Capital LLC bought a new stake in Clearwater Paper during the 4th quarter valued at about $4,585,000. Acadian Asset Management LLC increased its stake in Clearwater Paper by 14.2% during the 1st 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 in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Clearwater Paper by 64.6% during the 1st 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 stake in Clearwater Paper during the 4th quarter valued at about $535,000. Finally, Allspring Global Investments Holdings LLC increased its stake 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 valued at $4,772,000 after purchasing an additional 96,740 shares in the last quarter. 89.98% of the stock is currently owned by institutional investors.

Clearwater Paper Stock Performance

Shares of NYSE CLW opened at $28.00 on Thursday. The firm’s 50-day moving average price is $41.11 and its 200-day moving average price is $43.92. The company has a quick ratio of 0.74, a current ratio of 1.73 and a debt-to-equity ratio of 1.73. The company has a market cap of $466.98 million, a PE ratio of 4.68 and a beta of 0.34. Clearwater Paper Co. has a 52-week low of $27.82 and a 52-week high of $57.13.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported ($0.42) earnings per share (EPS) for the quarter. The company had revenue of $586.40 million for the quarter. Clearwater Paper had a net margin of 2.16% and a return on equity of 11.56%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CLW shares. Royal Bank of Canada raised their price objective on shares of Clearwater Paper from $42.00 to $48.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 7th. StockNews.com downgraded shares of Clearwater Paper from a “buy” rating to a “hold” rating in a report on Thursday, August 8th.

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.