Invenomic Capital Management LP Invests $3.12 Million in Clearwater Paper Corporation $CLW

Invenomic Capital Management LP purchased a new stake in Clearwater Paper Corporation (NYSE:CLW) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 150,332 shares of the basic materials company’s stock, valued at approximately $3,121,000. Invenomic Capital Management LP owned approximately 0.94% of Clearwater Paper at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Readystate Asset Management LP boosted its stake in Clearwater Paper by 19.2% during the third quarter. Readystate Asset Management LP now owns 762,138 shares of the basic materials company’s stock worth $15,822,000 after buying an additional 122,688 shares during the last quarter. Towle & Co. increased its stake in shares of Clearwater Paper by 12.4% in the 3rd quarter. Towle & Co. now owns 366,798 shares of the basic materials company’s stock worth $7,615,000 after acquiring an additional 40,575 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Clearwater Paper by 7.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 303,177 shares of the basic materials company’s stock worth $8,259,000 after acquiring an additional 20,184 shares during the period. Anchor Capital Management Company LLC raised its holdings in shares of Clearwater Paper by 14.9% during the 2nd quarter. Anchor Capital Management Company LLC now owns 285,053 shares of the basic materials company’s stock worth $7,765,000 after acquiring an additional 37,000 shares during the period. Finally, UBS Group AG boosted its position in shares of Clearwater Paper by 228.3% during the 3rd 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. Institutional investors and hedge funds own 89.98% of the company’s stock.

Clearwater Paper Stock Up 0.5%

Shares of NYSE:CLW opened at $13.18 on Tuesday. The company has a market capitalization of $211.34 million, a price-to-earnings ratio of -11.76 and a beta of 0.23. Clearwater Paper Corporation has a 12-month low of $12.84 and a 12-month high of $30.96. The business has a 50-day moving average price of $16.90 and a 200 day moving average price of $18.36. The company has a current ratio of 2.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.42.

Clearwater Paper (NYSE:CLW) last posted its earnings results on Wednesday, February 18th. The basic materials company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.08. Clearwater Paper had a negative net margin of 1.20% and a negative return on equity of 2.11%. The company had revenue of $386.40 million for the quarter, compared to analysts’ expectations of $379.00 million.

Analyst Ratings Changes

CLW has been the subject of several recent analyst reports. Truist Financial cut their price objective on shares of Clearwater Paper from $21.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday, February 19th. Royal Bank Of Canada decreased their target price on shares of Clearwater Paper from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. TD Securities dropped their price target on shares of Clearwater Paper from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Clearwater Paper in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.25.

Clearwater Paper 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.