Invenomic Capital Management LP Raises Position in Clearwater Paper Corporation $CLW

Invenomic Capital Management LP raised its stake in shares of Clearwater Paper Corporation (NYSE:CLW) by 113.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 320,212 shares of the basic materials company’s stock after purchasing an additional 169,880 shares during the period. Invenomic Capital Management LP owned 2.00% of Clearwater Paper worth $5,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Engineers Gate Manager LP purchased a new stake in Clearwater Paper during the fourth quarter valued at approximately $458,000. AQR Capital Management LLC raised its position in Clearwater Paper by 55.2% during the fourth quarter. AQR Capital Management LLC now owns 50,684 shares of the basic materials company’s stock valued at $882,000 after purchasing an additional 18,021 shares during the period. Trexquant Investment LP purchased a new stake in Clearwater Paper during the fourth quarter valued at approximately $822,000. Jump Financial LLC raised its position in Clearwater Paper by 37.3% during the fourth quarter. Jump Financial LLC now owns 47,300 shares of the basic materials company’s stock valued at $823,000 after purchasing an additional 12,856 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Clearwater Paper by 22.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,446 shares of the basic materials company’s stock valued at $461,000 after purchasing an additional 4,812 shares during the period. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CLW shares. Truist Financial restated a “hold” rating and set a $12.00 price objective (down from $15.00) on shares of Clearwater Paper in a research report on Wednesday, April 29th. TD Securities downgraded Clearwater Paper from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. TD downgraded Clearwater Paper from a “buy” rating to a “hold” rating and decreased their price objective for the company from $19.00 to $17.00 in a research report on Wednesday, April 29th. TD Cowen downgraded Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 price objective on the stock. in a research report on Wednesday, April 29th. Finally, Wall Street Zen downgraded Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Clearwater Paper presently has a consensus rating of “Hold” and a consensus price target of $17.00.

Clearwater Paper Stock Down 3.6%

Shares of NYSE:CLW opened at $16.75 on Thursday. Clearwater Paper Corporation has a 52-week low of $11.73 and a 52-week high of $30.96. The stock has a market cap of $270.09 million, a P/E ratio of -10.88 and a beta of 0.27. The business’s 50 day moving average is $14.96 and its 200 day moving average is $16.10. 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 (NYSE:CLW) last announced its quarterly earnings data 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. Clearwater Paper had a negative return on equity of 3.94% and a negative net margin of 1.63%.The company had revenue of $360.30 million for the quarter, compared to analysts’ expectations of $363.55 million.

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.