Readystate Asset Management LP Purchases 122,688 Shares of Clearwater Paper Corporation $CLW

Readystate Asset Management LP raised its position in Clearwater Paper Corporation (NYSE:CLW) by 19.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 762,138 shares of the basic materials company’s stock after buying an additional 122,688 shares during the period. Readystate Asset Management LP owned 4.75% of Clearwater Paper worth $15,822,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in shares of Clearwater Paper by 34.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company’s stock valued at $60,000 after acquiring an additional 563 shares during the last quarter. CWM LLC increased its holdings in Clearwater Paper by 2,215.1% during the 2nd quarter. CWM LLC now owns 3,380 shares of the basic materials company’s stock valued at $92,000 after purchasing an additional 3,234 shares in the last quarter. SG Americas Securities LLC bought a new position in Clearwater Paper in the 3rd quarter valued at $114,000. New York State Common Retirement Fund boosted its stake in Clearwater Paper by 104.9% in the third quarter. New York State Common Retirement Fund now owns 6,838 shares of the basic materials company’s stock worth $142,000 after purchasing an additional 3,500 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Clearwater Paper by 608.8% in the second quarter. BNP Paribas Financial Markets now owns 6,585 shares of the basic materials company’s stock worth $179,000 after purchasing an additional 5,656 shares in the last quarter. 89.98% of the stock is owned by institutional investors.

Clearwater Paper Price Performance

CLW opened at $16.64 on Wednesday. The stock has a market cap of $266.83 million, a P/E ratio of 1.98 and a beta of 0.20. Clearwater Paper Corporation has a 12 month low of $16.44 and a 12 month high of $30.96. The company has a quick ratio of 0.88, a current ratio of 2.10 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $18.19 and a 200 day simple moving average of $19.35.

Insider Buying and Selling at Clearwater Paper

In related news, VP Steve M. Bowden sold 8,889 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $18.14, for a total value of $161,246.46. Following the completion of the transaction, the vice president directly owned 68,516 shares in the company, valued at approximately $1,242,880.24. The trade was a 11.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CLW. Weiss Ratings restated a “sell (d+)” rating on shares of Clearwater Paper in a research note on Monday, December 29th. Wall Street Zen raised shares of Clearwater Paper from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Royal Bank Of Canada dropped their target price on shares of Clearwater Paper from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Finally, Truist Financial initiated coverage on shares of Clearwater Paper in a research report on Tuesday, January 20th. They set a “hold” rating and a $21.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $27.75.

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.