Clearwater Paper Co. (NYSE:CLW – Get Free Report) saw a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 389,800 shares, a decline of 60.6% from the December 31st total of 988,200 shares. Currently, 2.4% of the company’s stock are sold short. Based on an average daily volume of 464,600 shares, the days-to-cover ratio is presently 0.8 days.
Clearwater Paper Stock Performance
Shares of NYSE CLW traded down $0.20 during trading on Friday, reaching $32.17. The stock had a trading volume of 207,201 shares, compared to its average volume of 313,630. Clearwater Paper has a one year low of $23.97 and a one year high of $57.13. 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 stock has a market cap of $533.12 million, a PE ratio of 37.41 and a beta of 0.32. The firm’s 50 day moving average price is $28.84 and its two-hundred day moving average price is $31.77.
Clearwater Paper announced that its Board of Directors has authorized a share buyback plan on Monday, November 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the basic materials company to purchase up to 23.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
Analyst Ratings Changes
View Our Latest Stock Report on CLW
Institutional Investors Weigh In On Clearwater Paper
A number of institutional investors have recently made changes to their positions in CLW. Sei Investments Co. grew its stake in Clearwater Paper by 21.6% during the 2nd quarter. Sei Investments Co. now owns 47,991 shares of the basic materials company’s stock worth $2,326,000 after buying an additional 8,533 shares during the last quarter. Public Sector Pension Investment Board grew its stake in Clearwater Paper by 6.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 36,736 shares of the basic materials company’s stock worth $1,781,000 after buying an additional 2,360 shares during the last quarter. AQR Capital Management LLC grew its stake in Clearwater Paper by 10.9% during the 2nd quarter. AQR Capital Management LLC now owns 111,002 shares of the basic materials company’s stock worth $5,380,000 after buying an additional 10,875 shares during the last quarter. Truist Financial Corp bought a new position in Clearwater Paper during the 2nd quarter worth $351,000. Finally, Inspire Investing LLC bought a new position in Clearwater Paper during the 3rd quarter worth $414,000. 89.98% of the stock is currently owned by 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.
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