Assenagon Asset Management S.A. Sells 170,204 Shares of Clearwater Paper Co. (NYSE:CLW)

Assenagon Asset Management S.A. lessened its stake in shares of Clearwater Paper Co. (NYSE:CLW - Free Report) by 77.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,779 shares of the basic materials company's stock after selling 170,204 shares during the period. Assenagon Asset Management S.A. owned 0.30% of Clearwater Paper worth $1,421,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Clearwater Paper during the second quarter valued at about $52,000. GAMMA Investing LLC raised its stake in 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 buying an additional 255 shares during the period. nVerses Capital LLC bought a new position in Clearwater Paper in the third quarter worth approximately $74,000. SG Americas Securities LLC bought a new stake in shares of Clearwater Paper during the first quarter valued at approximately $132,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Clearwater Paper during the second quarter worth approximately $153,000. 89.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CLW shares. StockNews.com lowered shares of Clearwater Paper from a "buy" rating to a "hold" rating in a research note on Thursday, August 8th. Royal Bank of Canada upgraded shares of Clearwater Paper from a "sector perform" rating to an "outperform" rating and lowered their target price for the stock from $48.00 to $37.00 in a report on Friday, October 18th.

Clearwater Paper Stock Up 2.7 %

Shares of CLW stock traded up $0.69 during trading hours on Friday, reaching $25.88. The company had a trading volume of 4,138,018 shares, compared to its average volume of 274,943. The business has a fifty day simple moving average of $28.88 and a 200-day simple moving average of $40.54. Clearwater Paper Co. has a 12 month low of $24.51 and a 12 month high of $57.13. The company has a market cap of $430.38 million, a price-to-earnings ratio of 9.66 and a beta of 0.34. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.73 and a quick ratio of 0.74.

Clearwater Paper (NYSE:CLW - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported ($0.42) earnings per share (EPS) for the quarter. Clearwater Paper had a return on equity of 11.56% and a net margin of 2.16%. The firm had revenue of $586.40 million for the quarter.

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.