Clearwater Paper (NYSE:CLW) Hits New 52-Week High on Strong Earnings

Clearwater Paper Co. (NYSE:CLW)’s share price reached a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $47.98 and last traded at $47.28, with a volume of 115387 shares. The stock had previously closed at $40.69.

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

Analysts Set New Price Targets

Several brokerages have weighed in on CLW. Royal Bank of Canada lifted their price objective on shares of Clearwater Paper from $41.00 to $42.00 and gave the stock a “sector perform” rating in a research note on Tuesday. StockNews.com downgraded shares of Clearwater Paper from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 22nd.

Institutional Trading of Clearwater Paper

Several large investors have recently modified their holdings of the stock. Strs Ohio lifted its stake in Clearwater Paper by 3.0% during the fourth quarter. Strs Ohio now owns 17,000 shares of the basic materials company’s stock worth $614,000 after purchasing an additional 500 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Clearwater Paper during the 4th quarter worth $29,000. New York State Teachers Retirement System raised its holdings in shares of Clearwater Paper by 2.5% during the 4th quarter. New York State Teachers Retirement System now owns 36,120 shares of the basic materials company’s stock worth $1,305,000 after buying an additional 897 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Clearwater Paper by 11.2% during the 3rd quarter. TD Asset Management Inc now owns 18,900 shares of the basic materials company’s stock worth $685,000 after buying an additional 1,900 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Clearwater Paper by 14.1% in the fourth quarter. Teacher Retirement System of Texas now owns 29,477 shares of the basic materials company’s stock valued at $1,065,000 after buying an additional 3,648 shares in the last quarter. 89.98% of the stock is owned by institutional investors and hedge funds.

Clearwater Paper Stock Performance

The company has a debt-to-equity ratio of 0.69, a current ratio of 1.97 and a quick ratio of 0.85. The stock has a market cap of $746.86 million, a P/E ratio of 7.19 and a beta of 0.52. The stock has a 50-day simple moving average of $40.45 and a 200-day simple moving average of $37.05.

Clearwater Paper Company Profile

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.