Charles Schwab Investment Management Inc. Lowers Stock Position in Clearwater Paper Co. (NYSE:CLW)

Charles Schwab Investment Management Inc. trimmed its position in Clearwater Paper Co. (NYSE:CLW - Free Report) by 25.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 250,042 shares of the basic materials company's stock after selling 84,678 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.51% of Clearwater Paper worth $7,136,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in Clearwater Paper in the second quarter valued at approximately $52,000. nVerses Capital LLC acquired a new stake in shares of Clearwater Paper during the 3rd quarter valued at $74,000. DekaBank Deutsche Girozentrale bought a new stake in Clearwater Paper during the 2nd quarter worth $153,000. Caxton Associates LP acquired a new position in Clearwater Paper in the 2nd quarter worth about $200,000. Finally, Arizona State Retirement System bought a new position in Clearwater Paper in the second quarter valued at about $225,000. 89.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Clearwater Paper Stock Down 3.2 %

NYSE CLW traded down $0.83 on Thursday, reaching $25.07. The company had a trading volume of 372,625 shares, compared to its average volume of 252,594. The company has a quick ratio of 1.13, a current ratio of 1.78 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $415.36 million, a P/E ratio of 29.15 and a beta of 0.33. The company's fifty day moving average is $26.89 and its 200 day moving average is $36.65. Clearwater Paper Co. has a 52-week low of $24.17 and a 52-week high of $57.13.

Clearwater Paper announced that its Board of Directors has authorized a stock repurchase program on Monday, November 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the basic materials company to reacquire up to 23.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board 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.