Clearwater Paper (NYSE:CLW) Hits New 1-Year High After Better-Than-Expected Earnings

Clearwater Paper Co. (NYSE:CLW)’s stock price reached a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $47.98 and last traded at $47.28, with a volume of 115387 shares changing hands. The stock had previously closed at $40.69.

The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.32. Clearwater Paper had a net margin of 5.17% and a return on equity of 18.13%. The firm had revenue of $496.20 million for the quarter. During the same period in the previous year, the firm earned $1.47 EPS.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Clearwater Paper from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 22nd.

Institutional Investors Weigh In On Clearwater Paper

A number of large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its holdings in Clearwater Paper by 31.5% in the first quarter. Assenagon Asset Management S.A. now owns 177,048 shares of the basic materials company’s stock valued at $7,742,000 after acquiring an additional 42,365 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Clearwater Paper by 780.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 109,134 shares of the basic materials company’s stock worth $4,772,000 after buying an additional 96,740 shares during the period. Diversified Trust Co acquired a new stake in shares of Clearwater Paper during the first quarter valued at about $213,000. Grizzlyrock Capital LLC acquired a new stake in shares of Clearwater Paper during the fourth quarter valued at about $4,585,000. Finally, Wasatch Advisors LP purchased a new stake in shares of Clearwater Paper in the 4th quarter valued at approximately $9,909,000. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Paper Stock Performance

The company has a current ratio of 1.97, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The firm’s fifty day moving average price is $40.45 and its 200 day moving average price is $37.05. The stock has a market capitalization of $757.45 million, a price-to-earnings ratio of 7.25 and a beta of 0.52.

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.