Intech Investment Management LLC Invests $1.04 Million in Clearwater Paper Co. (NYSE:CLW)

Intech Investment Management LLC bought a new stake in shares of Clearwater Paper Co. (NYSE:CLW) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 36,540 shares of the basic materials company’s stock, valued at approximately $1,043,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CLW. Innealta Capital LLC bought a new stake in Clearwater Paper in the second quarter worth $52,000. GAMMA Investing LLC boosted its stake in Clearwater Paper by 30.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,096 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 255 shares in the last quarter. nVerses Capital LLC bought a new position in Clearwater Paper in the 3rd quarter worth about $74,000. DekaBank Deutsche Girozentrale bought a new stake in Clearwater Paper during the 2nd quarter valued at about $153,000. Finally, Caxton Associates LP bought a new stake in Clearwater Paper during the 2nd quarter valued at about $200,000. Institutional investors own 89.98% of the company’s stock.

Clearwater Paper Stock Up 1.3 %

CLW opened at $27.39 on Thursday. Clearwater Paper Co. has a 1-year low of $24.17 and a 1-year high of $57.13. The firm’s 50 day simple moving average is $27.32 and its two-hundred day simple moving average is $38.50. The company has a current ratio of 1.78, a quick ratio of 1.13 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $453.85 million, a PE ratio of 31.85 and a beta of 0.34.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 price objective on shares of Clearwater Paper in a report on Tuesday, November 5th.

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.