Bank of New York Mellon Corp Sells 2,183 Shares of Clearwater Paper Corporation (NYSE:CLW)

Bank of New York Mellon Corp cut its stake in Clearwater Paper Corporation (NYSE:CLW) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,795 shares of the basic materials company’s stock after selling 2,183 shares during the quarter. Bank of New York Mellon Corp’s holdings in Clearwater Paper were worth $1,339,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Clearwater Paper in the first quarter worth approximately $239,000. KLP Kapitalforvaltning AS bought a new stake in Clearwater Paper during the fourth quarter valued at approximately $378,000. D. E. Shaw & Co. Inc. grew its position in Clearwater Paper by 101.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 388,339 shares of the basic materials company’s stock valued at $11,561,000 after buying an additional 195,487 shares during the period. Marshall Wace LLP bought a new stake in Clearwater Paper during the fourth quarter valued at approximately $5,418,000. Finally, Sei Investments Co. bought a new stake in Clearwater Paper during the fourth quarter valued at approximately $2,010,000. 89.98% of the stock is currently owned by institutional investors.

Clearwater Paper Price Performance

Shares of NYSE:CLW opened at $24.09 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.66 and a quick ratio of 0.80. Clearwater Paper Corporation has a 1-year low of $22.58 and a 1-year high of $56.73. The company has a market capitalization of $391.70 million, a P/E ratio of 2.00 and a beta of 0.10. The firm’s 50 day simple moving average is $28.73 and its two-hundred day simple moving average is $27.60.

Clearwater Paper (NYSE:CLW) last issued its quarterly earnings results on Tuesday, July 29th. The basic materials company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.51). Clearwater Paper had a net margin of 12.98% and a negative return on equity of 4.18%. The firm had revenue of $391.80 million for the quarter, compared to analysts’ expectations of $397.00 million.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CLW shares. Wall Street Zen lowered shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. Royal Bank Of Canada lowered their price target on shares of Clearwater Paper from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday.

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.