83,119 Shares in Clearwater Paper Corporation $CLW Acquired by Empowered Funds LLC

Empowered Funds LLC acquired a new stake in Clearwater Paper Corporation (NYSE:CLW) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 83,119 shares of the basic materials company’s stock, valued at approximately $1,303,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CLW. Group One Trading LLC acquired a new position in shares of Clearwater Paper during the second quarter worth $25,000. Quantbot Technologies LP purchased a new stake in Clearwater Paper during the 2nd quarter worth about $27,000. Meeder Asset Management Inc. acquired a new position in shares of Clearwater Paper during the 4th quarter worth about $47,000. Tower Research Capital LLC TRC boosted its position in shares of Clearwater Paper by 34.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company’s stock worth $60,000 after acquiring an additional 563 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Clearwater Paper by 26.4% in the 2nd quarter. Versant Capital Management Inc now owns 4,627 shares of the basic materials company’s stock valued at $73,000 after acquiring an additional 965 shares during the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

Clearwater Paper Stock Up 0.7%

Shares of NYSE CLW opened at $20.84 on Friday. The business has a 50-day moving average price of $19.15 and a 200 day moving average price of $16.37. The stock has a market cap of $336.23 million, a PE ratio of -6.86 and a beta of 0.22. The company has a quick ratio of 1.17, a current ratio of 2.29 and a debt-to-equity ratio of 0.45. Clearwater Paper Corporation has a 52-week low of $11.73 and a 52-week high of $23.59.

Clearwater Paper (NYSE:CLW) last released its quarterly 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). The firm had revenue of $374.80 million for the quarter, compared to analyst estimates of $374.80 million. Clearwater Paper had a negative return on equity of 7.95% and a negative net margin of 3.24%. Equities research analysts forecast that Clearwater Paper Corporation will post -2.95 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Truist Financial boosted their target price on Clearwater Paper from $12.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, July 15th. Wall Street Zen lowered shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Sunday, June 28th. TD Securities reissued a “hold” rating and set a $20.00 price objective on shares of Clearwater Paper in a report on Wednesday, July 29th. Royal Bank Of Canada restated an “outperform” rating and set a $21.00 price objective on shares of Clearwater Paper in a research report on Wednesday, July 29th. Finally, Zacks Research raised shares of Clearwater Paper to a “hold” rating in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently 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.