Man Group plc acquired a new stake in Clearwater Paper Corporation (NYSE:CLW – Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 190,419 shares of the basic materials company’s stock, valued at approximately $2,986,000. Man Group plc owned approximately 1.18% of Clearwater Paper at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Clearwater Paper in the second quarter worth $19,788,000. Readystate Asset Management LP lifted its position in Clearwater Paper by 2.5% during the first quarter. Readystate Asset Management LP now owns 781,384 shares of the basic materials company’s stock worth $11,236,000 after purchasing an additional 19,246 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Clearwater Paper by 33.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,953 shares of the basic materials company’s stock worth $9,708,000 after buying an additional 139,013 shares in the last quarter. Millennium Management LLC grew its stake in Clearwater Paper by 158.1% during the fourth quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company’s stock worth $6,278,000 after buying an additional 221,029 shares in the last quarter. Finally, Invenomic Capital Management LP increased its holdings in Clearwater Paper by 113.0% in the 4th quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company’s stock valued at $5,572,000 after buying an additional 169,880 shares during the period. 89.98% of the stock is currently owned by institutional investors.
Clearwater Paper Price Performance
CLW stock opened at $20.83 on Tuesday. The stock has a market cap of $335.99 million, a price-to-earnings ratio of -6.85 and a beta of 0.24. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.29 and a quick ratio of 1.17. The company has a 50 day simple moving average of $18.80 and a 200 day simple moving average of $16.27. Clearwater Paper Corporation has a 1 year low of $11.73 and a 1 year high of $23.59.
Analyst Ratings Changes
Several equities analysts have recently commented on CLW shares. Royal Bank Of Canada restated an “outperform” rating and issued a $21.00 target price on shares of Clearwater Paper in a research report on Wednesday, July 29th. Bank of America initiated coverage on shares of Clearwater Paper in a research note on Thursday, July 2nd. They issued a “buy” rating and a $19.00 price objective on the stock. Truist Financial upped their target price on Clearwater Paper from $12.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, July 15th. TD Securities reaffirmed a “hold” rating and issued a $20.00 target price on shares of Clearwater Paper in a report on Wednesday, July 29th. Finally, Zacks Research upgraded Clearwater Paper to a “hold” rating in a research note on Monday, July 6th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.50.
Check Out Our Latest Stock Report on Clearwater Paper
Clearwater Paper Profile
Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.
The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.
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