Clearwater Paper Co. (NYSE:CLW) Short Interest Update

Clearwater Paper Co. (NYSE:CLW) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 988,200 shares, an increase of 16.0% from the November 30th total of 851,800 shares. Based on an average daily volume of 455,400 shares, the days-to-cover ratio is presently 2.2 days. Approximately 6.2% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

CLW has been the topic of several analyst reports. StockNews.com cut Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $37.00 target price on shares of Clearwater Paper in a report on Tuesday, November 5th.

Clearwater Paper Price Performance

NYSE:CLW opened at $29.77 on Wednesday. Clearwater Paper has a 52-week low of $23.97 and a 52-week high of $57.13. The stock has a fifty day moving average of $27.16 and a 200 day moving average of $34.31. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.13 and a current ratio of 1.78. The firm has a market capitalization of $493.23 million, a price-to-earnings ratio of 34.62 and a beta of 0.33.

Clearwater Paper declared that its board has authorized a stock buyback program on Monday, November 4th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 23.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Clearwater Paper

A number of institutional investors and hedge funds have recently bought and sold shares of CLW. Barclays PLC increased its holdings in shares of Clearwater Paper by 339.6% in the 3rd quarter. Barclays PLC now owns 27,139 shares of the basic materials company’s stock worth $774,000 after buying an additional 20,966 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Clearwater Paper in the third quarter worth $877,000. Readystate Asset Management LP bought a new position in Clearwater Paper in the third quarter valued at $1,978,000. HighTower Advisors LLC raised its position in Clearwater Paper by 124.0% during the third quarter. HighTower Advisors LLC now owns 12,400 shares of the basic materials company’s stock valued at $361,000 after purchasing an additional 6,865 shares in the last quarter. Finally, Cinctive Capital Management LP bought a new stake in Clearwater Paper during the third quarter worth about $815,000. 89.98% of the stock is owned by hedge funds and other institutional investors.

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.