Clearwater Paper Co. (NYSE:CLW – Get Free Report) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 298,100 shares, an increase of 108.8% from the February 29th total of 142,800 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily volume of 189,300 shares, the days-to-cover ratio is presently 1.6 days.
Analyst Ratings Changes
Separately, StockNews.com cut shares of Clearwater Paper from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 22nd.
View Our Latest Research Report on CLW
Clearwater Paper Stock Performance
Clearwater Paper (NYSE:CLW – Get Free Report) last posted its earnings results on Tuesday, February 20th. The basic materials company reported $1.35 earnings per share for the quarter. Clearwater Paper had a return on equity of 18.13% and a net margin of 5.17%. The company had revenue of $512.80 million during the quarter.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in Clearwater Paper by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 321,719 shares of the basic materials company’s stock valued at $11,662,000 after purchasing an additional 14,733 shares in the last quarter. CX Institutional acquired a new position in Clearwater Paper in the third quarter valued at about $3,728,000. Assenagon Asset Management S.A. raised its stake in Clearwater Paper by 47.2% in the third quarter. Assenagon Asset Management S.A. now owns 153,165 shares of the basic materials company’s stock valued at $5,552,000 after purchasing an additional 49,141 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Clearwater Paper in the fourth quarter valued at about $397,000. Finally, Corton Capital Inc. acquired a new position in Clearwater Paper in the third quarter valued at about $455,000. Institutional investors and hedge funds own 89.98% of the company’s stock.
About Clearwater Paper
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.
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