Clearwater Paper Co. (NYSE:CLW) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its stake in shares of Clearwater Paper Co. (NYSE:CLW - Free Report) by 90.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,580 shares of the basic materials company's stock after selling 34,062 shares during the quarter. BNP Paribas Financial Markets' holdings in Clearwater Paper were worth $102,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new position in shares of Clearwater Paper in the 2nd quarter worth approximately $52,000. nVerses Capital LLC acquired a new position in Clearwater Paper in the third quarter worth $74,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Clearwater Paper in the 2nd quarter valued at about $153,000. Caxton Associates LP bought a new position in Clearwater Paper in the second quarter worth about $200,000. Finally, Arizona State Retirement System bought a new position in Clearwater Paper in the second quarter worth about $225,000. Institutional investors own 89.98% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $37.00 price target on shares of Clearwater Paper in a research report on Tuesday, November 5th. StockNews.com lowered Clearwater Paper from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th.

Clearwater Paper Stock Performance

Clearwater Paper stock traded up $0.18 during midday trading on Thursday, reaching $24.71. 605,342 shares of the stock traded hands, compared to its average volume of 256,280. The firm has a fifty day moving average price of $26.76 and a two-hundred day moving average price of $35.77. Clearwater Paper Co. has a fifty-two week low of $23.97 and a fifty-two week high of $57.13. The firm has a market cap of $409.40 million, a price-to-earnings ratio of 28.73 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.

Clearwater Paper declared that its board has approved a share buyback plan on Monday, November 4th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to buy up to 23.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

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.