Bank of New York Mellon Corp Sells 74,073 Shares of Clearwater Paper Co. (NYSE:CLW)

Bank of New York Mellon Corp lowered its position in Clearwater Paper Co. (NYSE:CLW - Free Report) by 57.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,978 shares of the basic materials company's stock after selling 74,073 shares during the period. Bank of New York Mellon Corp owned about 0.33% of Clearwater Paper worth $1,637,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CLW. Victory Capital Management Inc. lifted its position in shares of Clearwater Paper by 63.9% during the 3rd quarter. Victory Capital Management Inc. now owns 50,240 shares of the basic materials company's stock worth $1,434,000 after buying an additional 19,580 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Clearwater Paper by 16.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 35,762 shares of the basic materials company's stock worth $1,021,000 after purchasing an additional 4,994 shares during the last quarter. Intech Investment Management LLC bought a new position in Clearwater Paper in the 3rd quarter valued at $1,043,000. D.A. Davidson & CO. grew its stake in Clearwater Paper by 23.4% in the 3rd quarter. D.A. Davidson & CO. now owns 7,900 shares of the basic materials company's stock valued at $225,000 after purchasing an additional 1,500 shares during the period. Finally, PEAK6 Investments LLC increased its position in shares of Clearwater Paper by 15.5% during the 3rd quarter. PEAK6 Investments LLC now owns 9,127 shares of the basic materials company's stock valued at $260,000 after purchasing an additional 1,227 shares during the last quarter. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Clearwater Paper

In other news, SVP Kari G. Moyes sold 1,132 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.98, for a total value of $27,145.36. Following the sale, the senior vice president now directly owns 81,439 shares of the company's stock, valued at approximately $1,952,907.22. This represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company's stock.

Clearwater Paper Stock Performance

Shares of CLW stock traded down $0.57 on Wednesday, hitting $25.11. 211,498 shares of the stock were exchanged, compared to its average volume of 284,929. The firm's 50 day moving average is $27.93 and its two-hundred day moving average is $27.84. Clearwater Paper Co. has a one year low of $22.58 and a one year high of $57.13. The firm has a market capitalization of $406.15 million, a PE ratio of 2.14 and a beta of 0.37. The company has a current ratio of 1.70, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33.

Clearwater Paper (NYSE:CLW - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The basic materials company reported ($1.17) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.84). Clearwater Paper had a net margin of 10.54% and a negative return on equity of 1.87%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Clearwater Paper from a "sell" rating to a "hold" rating in a research report on Monday, February 17th. Royal Bank of Canada reissued an "outperform" rating and set a $37.00 target price on shares of Clearwater Paper in a research report on Tuesday, February 18th.

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.