Clearwater Paper Co. (NYSE:CLW) Sees Large Decline in Short Interest

Clearwater Paper Co. (NYSE:CLW - Get Free Report) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 984,500 shares, a decrease of 9.7% from the October 15th total of 1,090,000 shares. Approximately 6.1% of the company's shares are short sold. Based on an average daily trading volume, of 411,000 shares, the days-to-cover ratio is presently 2.4 days.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Clearwater Paper

Institutional investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new stake in Clearwater Paper during the second quarter valued at $52,000. GAMMA Investing LLC grew its stake in shares of Clearwater Paper by 30.3% in the second quarter. GAMMA Investing LLC now owns 1,096 shares of the basic materials company's stock valued at $53,000 after buying an additional 255 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Clearwater Paper in the third quarter valued at $74,000. SG Americas Securities LLC acquired a new stake in shares of Clearwater Paper in the first quarter valued at $132,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Clearwater Paper during the 2nd quarter worth $153,000. 89.98% of the stock is owned by hedge funds and other institutional investors.

Clearwater Paper Trading Down 0.0 %

Shares of NYSE:CLW traded down $0.01 during trading on Tuesday, reaching $24.80. 122,098 shares of the company traded hands, compared to its average volume of 250,570. 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 firm has a market capitalization of $410.94 million, a price-to-earnings ratio of 28.85 and a beta of 0.34. Clearwater Paper has a 52-week low of $24.17 and a 52-week high of $57.13. The business's fifty day moving average is $27.63 and its 200-day moving average is $39.40.

Clearwater Paper announced that its board has authorized a share buyback program on Monday, November 4th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the basic materials company to purchase up to 23.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is 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.