First Eagle Investment Management LLC Sells 124,449 Shares of Clearwater Paper Corporation $CLW

First Eagle Investment Management LLC cut its position in Clearwater Paper Corporation (NYSE:CLW) by 60.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,609 shares of the basic materials company’s stock after selling 124,449 shares during the period. First Eagle Investment Management LLC’s holdings in Clearwater Paper were worth $1,437,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. UBS Group AG raised its stake in Clearwater Paper by 228.3% during the 3rd quarter. UBS Group AG now owns 258,186 shares of the basic materials company’s stock worth $5,360,000 after buying an additional 179,539 shares during the period. Invenomic Capital Management LP acquired a new stake in Clearwater Paper in the third quarter valued at approximately $3,121,000. Readystate Asset Management LP increased its holdings in shares of Clearwater Paper by 19.2% during the third quarter. Readystate Asset Management LP now owns 762,138 shares of the basic materials company’s stock valued at $15,822,000 after acquiring an additional 122,688 shares in the last quarter. Peapod Lane Capital LLC increased its holdings in shares of Clearwater Paper by 177.8% during the third quarter. Peapod Lane Capital LLC now owns 165,388 shares of the basic materials company’s stock valued at $3,433,000 after acquiring an additional 105,850 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new position in shares of Clearwater Paper during the third quarter worth approximately $1,443,000. 89.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

CLW has been the topic of a number of recent research reports. TD Securities cut Clearwater Paper from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. TD Cowen downgraded shares of Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 price objective on the stock. in a report on Wednesday, April 29th. Truist Financial reaffirmed a “hold” rating and issued a $12.00 price objective (down from $15.00) on shares of Clearwater Paper in a research note on Wednesday, April 29th. Wall Street Zen cut shares of Clearwater Paper from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Finally, Royal Bank Of Canada decreased their target price on shares of Clearwater Paper from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.00.

Clearwater Paper Stock Down 0.4%

CLW stock opened at $13.54 on Thursday. The firm has a market capitalization of $218.18 million, a PE ratio of -8.79 and a beta of 0.21. The company has a quick ratio of 1.26, a current ratio of 2.61 and a debt-to-equity ratio of 0.44. Clearwater Paper Corporation has a twelve month low of $11.73 and a twelve month high of $30.96. The stock’s 50 day moving average is $14.22 and its 200-day moving average is $16.55.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings results on Tuesday, April 28th. The basic materials company reported ($1.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.32) by $0.03. The business had revenue of $360.30 million during the quarter, compared to the consensus estimate of $363.55 million. Clearwater Paper had a negative return on equity of 3.94% and a negative net margin of 1.63%.

About Clearwater Paper

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.