Clearwater Paper Co. (NYSE:CLW) Short Interest Update

Clearwater Paper Co. (NYSE:CLW) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 984,500 shares, a decrease of 9.7% from the October 15th total of 1,090,000 shares. Based on an average daily trading volume, of 411,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 6.1% of the company’s stock are short sold.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 target price on shares of Clearwater Paper in a research report on Tuesday, November 5th. StockNews.com downgraded shares of Clearwater Paper from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th.

Clearwater Paper Stock Down 0.7 %

Shares of Clearwater Paper stock traded down $0.17 during midday trading on Tuesday, reaching $24.64. 60,419 shares of the company’s stock traded hands, compared to its average volume of 250,294. The company has a market cap of $408.28 million, a price-to-earnings ratio of 28.85 and a beta of 0.34. The company’s 50 day simple moving average is $27.63 and its 200 day simple moving average is $39.40. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.13 and a current ratio of 1.78. Clearwater Paper has a 52 week low of $24.17 and a 52 week high of $57.13.

Clearwater Paper declared that its board has initiated a share repurchase plan on Monday, November 4th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the basic materials company to repurchase up to 23.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC grew its stake in Clearwater Paper by 339.6% in the 3rd quarter. Barclays PLC now owns 27,139 shares of the basic materials company’s stock valued at $774,000 after buying an additional 20,966 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Clearwater Paper in the 3rd quarter valued at $877,000. Readystate Asset Management LP acquired a new position in Clearwater Paper in the 3rd quarter valued at $1,978,000. HighTower Advisors LLC grew its stake in Clearwater Paper by 124.0% in the 3rd quarter. HighTower Advisors LLC now owns 12,400 shares of the basic materials company’s stock valued at $361,000 after buying an additional 6,865 shares during the last quarter. Finally, Cinctive Capital Management LP acquired a new position in Clearwater Paper in the 3rd quarter valued at $815,000. 89.98% of the stock is currently owned by institutional investors and hedge funds.

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.