Peregrine Capital Management LLC Trims Holdings in Clearwater Paper Corporation $CLW

Peregrine Capital Management LLC cut its holdings in Clearwater Paper Corporation (NYSE:CLW) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,332 shares of the basic materials company’s stock after selling 4,480 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.82% of Clearwater Paper worth $3,632,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elite Financial Inc. purchased a new stake in shares of Clearwater Paper in the 1st quarter worth about $74,000. CWM LLC grew its position in Clearwater Paper by 2,215.1% during the 2nd quarter. CWM LLC now owns 3,380 shares of the basic materials company’s stock valued at $92,000 after purchasing an additional 3,234 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Clearwater Paper during the 1st quarter valued at about $98,000. Caxton Associates LLP purchased a new stake in Clearwater Paper during the 1st quarter valued at about $204,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Clearwater Paper during the 1st quarter valued at about $239,000. 89.98% of the stock is owned by hedge funds and other institutional investors.

Clearwater Paper Price Performance

CLW opened at $19.33 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.87 and a current ratio of 1.97. The stock has a market capitalization of $311.26 million, a P/E ratio of 1.60 and a beta of 0.17. The company’s 50-day simple moving average is $20.71 and its two-hundred day simple moving average is $24.79. Clearwater Paper Corporation has a 52-week low of $18.70 and a 52-week high of $33.56.

Clearwater Paper (NYSE:CLW) last posted its earnings results on Thursday, March 7th. The basic materials company reported ($0.30) earnings per share (EPS) for the quarter. The company had revenue of ($358.30) million for the quarter. Clearwater Paper had a net margin of 12.98% and a negative return on equity of 4.11%.

Wall Street Analyst Weigh In

Several analysts recently commented on CLW shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Clearwater Paper in a research report on Wednesday, October 8th. TD Cowen started coverage on shares of Clearwater Paper in a research report on Monday, September 22nd. They set a “buy” rating and a $30.00 price objective on the stock. TD Securities set a $30.00 price objective on shares of Clearwater Paper and gave the company a “buy” rating in a research report on Monday, September 22nd. Royal Bank Of Canada cut their price objective on shares of Clearwater Paper from $37.00 to $36.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 30th. Finally, Wall Street Zen downgraded shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Clearwater Paper has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Clearwater Paper Company 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.