Clearwater Paper Co. (NYSE:CLW) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lowered its stake in Clearwater Paper Co. (NYSE:CLW - Free Report) by 32.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,760 shares of the basic materials company's stock after selling 30,632 shares during the period. Jacobs Levy Equity Management Inc. owned 0.38% of Clearwater Paper worth $1,791,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Innealta Capital LLC purchased a new position in shares of Clearwater Paper during the second quarter worth $52,000. GAMMA Investing LLC grew its stake in shares of Clearwater Paper by 30.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,096 shares of the basic materials company's stock worth $53,000 after purchasing an additional 255 shares during the period. nVerses Capital LLC purchased a new position in shares of Clearwater Paper during the 3rd quarter valued at approximately $74,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Clearwater Paper in the 2nd quarter valued at $153,000. Finally, Caxton Associates LP purchased a new stake in Clearwater Paper during the second quarter worth $200,000. 89.98% of the stock is owned by hedge funds and other institutional investors.

Clearwater Paper Price Performance

Clearwater Paper stock traded down $0.18 during midday trading on Friday, reaching $26.84. The company had a trading volume of 156,552 shares, compared to its average volume of 308,997. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.78 and a quick ratio of 1.13. Clearwater Paper Co. has a 12-month low of $24.17 and a 12-month high of $57.13. The company has a market capitalization of $444.74 million, a P/E ratio of 31.21 and a beta of 0.33. The firm's fifty day simple moving average is $26.96 and its 200-day simple moving average is $37.16.

Clearwater Paper declared that its Board of Directors has authorized a share repurchase plan 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 reacquire up to 23.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

CLW has been the topic of a number of analyst reports. StockNews.com cut 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 issued a $37.00 price objective on shares of Clearwater Paper in a research report on Tuesday, November 5th.

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.