Man Group plc Takes $2.99 Million Position in Clearwater Paper Corporation $CLW

Man Group plc acquired a new stake in Clearwater Paper Corporation (NYSE:CLW) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 190,419 shares of the basic materials company’s stock, valued at approximately $2,986,000.

Several other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Clearwater Paper during the second quarter worth about $19,788,000. Millennium Management LLC lifted its stake in shares of Clearwater Paper by 158.1% in the fourth quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company’s stock worth $6,278,000 after acquiring an additional 221,029 shares during the period. UBS Group AG boosted its holdings in Clearwater Paper by 228.3% in the third quarter. UBS Group AG now owns 258,186 shares of the basic materials company’s stock valued at $5,360,000 after acquiring an additional 179,539 shares during the last quarter. Invenomic Capital Management LP boosted its holdings in Clearwater Paper by 113.0% in the fourth quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company’s stock valued at $5,572,000 after acquiring an additional 169,880 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Clearwater Paper by 33.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 557,953 shares of the basic materials company’s stock valued at $9,708,000 after purchasing an additional 139,013 shares during the period. 89.98% of the stock is currently owned by institutional investors and hedge funds.

Clearwater Paper Price Performance

Shares of NYSE CLW opened at $20.83 on Tuesday. The firm has a market capitalization of $335.99 million, a P/E ratio of -6.85 and a beta of 0.24. The firm’s 50-day moving average price is $18.80 and its 200-day moving average price is $16.27. The company has a current ratio of 2.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.45. Clearwater Paper Corporation has a 1-year low of $11.73 and a 1-year high of $23.59.

Clearwater Paper (NYSE:CLW) last issued its earnings results on Tuesday, July 28th. The basic materials company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($1.49) by ($0.26). Clearwater Paper had a negative net margin of 3.24% and a negative return on equity of 7.95%. The firm had revenue of $374.80 million during the quarter, compared to analyst estimates of $374.80 million. Equities research analysts anticipate that Clearwater Paper Corporation will post -2.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CLW shares. Royal Bank Of Canada restated an “outperform” rating and issued a $21.00 price target on shares of Clearwater Paper in a research report on Wednesday, July 29th. Wall Street Zen lowered shares of Clearwater Paper from a “hold” rating to a “sell” rating in a report on Sunday, June 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Clearwater Paper in a research report on Wednesday, August 5th. Truist Financial increased their price target on Clearwater Paper from $12.00 to $17.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Finally, Zacks Research raised Clearwater Paper to a “hold” rating in a research note on Monday, July 6th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $18.50.

Clearwater Paper Company 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.