Clearwater Paper (NYSE:CLW) Issues Earnings Results

Clearwater Paper (NYSE:CLW) posted its earnings results on Wednesday. The basic materials company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.08, FiscalAI reports. The firm had revenue of $386.40 million during the quarter, compared to analysts’ expectations of $379.00 million. Clearwater Paper had a negative return on equity of 3.65% and a net margin of 9.14%.

Clearwater Paper Price Performance

Shares of NYSE:CLW traded up $0.22 during mid-day trading on Wednesday, reaching $16.78. The stock had a trading volume of 213,793 shares, compared to its average volume of 208,635. The business’s 50 day moving average price is $18.19 and its 200 day moving average price is $19.35. Clearwater Paper has a 1 year low of $16.44 and a 1 year high of $30.96. The company has a market cap of $269.18 million, a P/E ratio of 2.00 and a beta of 0.20. The company has a current ratio of 2.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.43.

Insider Activity

In other Clearwater Paper news, VP Steve M. Bowden sold 8,889 shares of Clearwater Paper stock in a transaction on Friday, November 28th. The shares were 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 of the company’s stock, valued at $1,242,880.24. This trade represents a 11.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 3.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clearwater Paper

Institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in shares of Clearwater Paper in the fourth quarter worth approximately $47,000. Tower Research Capital LLC TRC lifted its holdings in 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 valued at $60,000 after buying an additional 563 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Clearwater Paper by 608.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,585 shares of the basic materials company’s stock worth $179,000 after acquiring an additional 5,656 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Clearwater Paper during the first quarter valued at approximately $204,000. Finally, Deutsche Bank AG increased its holdings in Clearwater Paper by 7.0% during the 4th quarter. Deutsche Bank AG now owns 12,319 shares of the basic materials company’s stock worth $214,000 after purchasing an additional 802 shares during the period. Institutional investors own 89.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Clearwater Paper in a research report on Monday, December 29th. Royal Bank Of Canada cut their price target on shares of Clearwater Paper from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Truist Financial began coverage on shares of Clearwater Paper in a report on Tuesday, January 20th. They issued a “hold” rating and a $21.00 price target for the company. Finally, Wall Street Zen raised shares of Clearwater Paper from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Clearwater Paper has an average rating of “Hold” and a consensus price target 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.