Jacobs Levy Equity Management Inc. Decreases Stock Holdings in Clearwater Paper Co. (NYSE:CLW)

Jacobs Levy Equity Management Inc. reduced its stake in shares of Clearwater Paper Co. (NYSE:CLW) by 32.8% during the third quarter, Holdings Channel reports. The firm owned 62,760 shares of the basic materials company’s stock after selling 30,632 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Clearwater Paper were worth $1,791,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CLW. GAMMA Investing LLC increased its position in Clearwater Paper by 30.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,096 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 255 shares during the period. Assenagon Asset Management S.A. increased its position in Clearwater Paper by 24.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 219,983 shares of the basic materials company’s stock valued at $10,663,000 after purchasing an additional 42,935 shares during the period. Ellsworth Advisors LLC purchased a new position in Clearwater Paper during the 2nd quarter valued at $525,000. SummerHaven Investment Management LLC increased its position in Clearwater Paper by 1.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 23,515 shares of the basic materials company’s stock valued at $1,140,000 after purchasing an additional 287 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Clearwater Paper by 2.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the basic materials company’s stock valued at $407,000 after purchasing an additional 200 shares during the period. 89.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CLW has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $37.00 target price on shares of Clearwater Paper in a report on Tuesday, November 5th.

Clearwater Paper Stock Performance

Shares of CLW stock opened at $26.84 on Friday. Clearwater Paper Co. has a 12 month low of $24.17 and a 12 month high of $57.13. The stock has a market cap of $444.74 million, a PE ratio of 31.21 and a beta of 0.33. The company has a current ratio of 1.78, a quick ratio of 1.13 and a debt-to-equity ratio of 1.72. The company’s fifty day moving average price is $26.96 and its 200-day moving average price is $37.27.

Clearwater Paper announced that its Board of Directors has approved a share buyback plan on Monday, November 4th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the basic materials company to reacquire up to 23.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Clearwater Paper 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.