Quest Partners LLC Cuts Stock Holdings in Clearwater Paper Co. (NYSE:CLW)

Quest Partners LLC lessened its position in Clearwater Paper Co. (NYSE:CLW) by 38.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,643 shares of the basic materials company’s stock after selling 3,558 shares during the quarter. Quest Partners LLC’s holdings in Clearwater Paper were worth $161,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CLW. Innealta Capital LLC acquired a new stake in Clearwater Paper in the 2nd quarter valued at about $52,000. GAMMA Investing LLC increased its holdings in shares of Clearwater Paper by 30.3% in the second quarter. GAMMA Investing LLC now owns 1,096 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 255 shares during the last quarter. nVerses Capital LLC purchased a new position in Clearwater Paper during the third quarter worth approximately $74,000. DekaBank Deutsche Girozentrale purchased a new position in Clearwater Paper during the second quarter worth approximately $153,000. Finally, Caxton Associates LP acquired a new position in Clearwater Paper during the second quarter worth $200,000. 89.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. StockNews.com downgraded 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 set a $37.00 target price on shares of Clearwater Paper in a research note on Tuesday, November 5th.

Clearwater Paper Trading Up 1.3 %

CLW opened at $27.39 on Friday. The stock has a market capitalization of $453.80 million, a PE ratio of 31.85 and a beta of 0.34. Clearwater Paper Co. has a one year low of $24.17 and a one year high of $57.13. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.13 and a current ratio of 1.78. The business’s 50 day moving average price is $27.27 and its 200 day moving average price is $38.43.

Clearwater Paper declared that its board has authorized a share repurchase program on Monday, November 4th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the basic materials company to purchase up to 23.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

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.