Peregrine Capital Management LLC Acquires Shares of 145,393 Clearwater Paper Co. (NYSE:CLW)

Peregrine Capital Management LLC acquired a new stake in Clearwater Paper Co. (NYSE:CLW) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 145,393 shares of the basic materials company’s stock, valued at approximately $4,328,000.

Several other institutional investors have also recently bought and sold shares of CLW. Pacer Advisors Inc. raised its position in Clearwater Paper by 45.2% in the 3rd quarter. Pacer Advisors Inc. now owns 1,887,015 shares of the basic materials company’s stock valued at $53,855,000 after purchasing an additional 587,043 shares during the last quarter. Readystate Asset Management LP bought a new position in Clearwater Paper in the 3rd quarter valued at $1,978,000. Intech Investment Management LLC bought a new position in Clearwater Paper in the 3rd quarter valued at $1,043,000. Y Intercept Hong Kong Ltd bought a new position in Clearwater Paper in the 3rd quarter valued at $877,000. Finally, Cinctive Capital Management LP bought a new position in Clearwater Paper in the 3rd quarter valued at $815,000. Institutional investors own 89.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CLW. StockNews.com upgraded Clearwater Paper from a “sell” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and set a $37.00 target price on shares of Clearwater Paper in a research report on Tuesday.

Clearwater Paper Trading Up 0.4 %

CLW stock opened at $28.03 on Thursday. The company has a market cap of $464.37 million, a P/E ratio of 2.39 and a beta of 0.35. Clearwater Paper Co. has a twelve month low of $23.97 and a twelve month high of $57.13. The company has a quick ratio of 0.90, a current ratio of 1.70 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average of $29.59 and a 200-day moving average of $29.36.

Clearwater Paper (NYSE:CLW) last released its earnings results on Thursday, February 13th. The basic materials company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.84). Clearwater Paper had a negative return on equity of 1.87% and a net margin of 10.54%.

Clearwater Paper announced that its board has approved a share repurchase plan on Monday, November 4th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the basic materials company to buy up to 23.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Clearwater Paper 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.