Clearwater Paper Co. (NYSE:CLW) Sees Significant Drop in Short Interest

Clearwater Paper Co. (NYSE:CLW) was the target of a large drop in short interest in April. As of April 15th, there was short interest totalling 482,400 shares, a drop of 9.0% from the March 31st total of 530,300 shares. Based on an average trading volume of 193,700 shares, the days-to-cover ratio is currently 2.5 days. Approximately 3.0% of the company’s stock are short sold.

Clearwater Paper Stock Up 1.1 %

NYSE:CLW traded up $0.46 during midday trading on Monday, reaching $40.69. 196,529 shares of the stock traded hands, compared to its average volume of 179,624. The business has a 50-day moving average of $40.45 and a two-hundred day moving average of $37.05. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.97. Clearwater Paper has a 12-month low of $29.22 and a 12-month high of $44.21. The stock has a market capitalization of $673.83 million, a PE ratio of 6.40 and a beta of 0.52.

Clearwater Paper (NYSE:CLW) last issued its quarterly earnings data on Tuesday, February 20th. The basic materials company reported $1.35 EPS for the quarter. Clearwater Paper had a return on equity of 18.13% and a net margin of 5.17%. The firm had revenue of $512.80 million during the quarter.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Clearwater Paper from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 22nd.

Institutional Investors Weigh In On Clearwater Paper

A number of large investors have recently modified their holdings of CLW. Assenagon Asset Management S.A. lifted its stake in shares of Clearwater Paper by 31.5% during the first quarter. Assenagon Asset Management S.A. now owns 177,048 shares of the basic materials company’s stock worth $7,742,000 after buying an additional 42,365 shares during the period. Allspring Global Investments Holdings LLC lifted its position 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 worth $4,772,000 after acquiring an additional 96,740 shares during the period. Diversified Trust Co purchased a new stake in Clearwater Paper during the 1st quarter valued at about $213,000. Grizzlyrock Capital LLC acquired a new position in shares of Clearwater Paper in the fourth quarter valued at about $4,585,000. Finally, Wasatch Advisors LP purchased a new position in shares of Clearwater Paper in the fourth quarter worth about $9,909,000. Hedge funds and other institutional investors 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.