Pacer Advisors Inc. Purchases 587,043 Shares of Clearwater Paper Co. (NYSE:CLW)

Pacer Advisors Inc. raised its position in shares of Clearwater Paper Co. (NYSE:CLW - Free Report) by 45.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,887,015 shares of the basic materials company's stock after purchasing an additional 587,043 shares during the quarter. Pacer Advisors Inc. owned approximately 11.39% of Clearwater Paper worth $53,855,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new position in Clearwater Paper during the third quarter worth $1,043,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Clearwater Paper by 16.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 35,762 shares of the basic materials company's stock worth $1,021,000 after acquiring an additional 4,994 shares during the period. Empowered Funds LLC lifted its stake in shares of Clearwater Paper by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 106,519 shares of the basic materials company's stock valued at $3,040,000 after purchasing an additional 5,360 shares during the period. Royce & Associates LP boosted its position in shares of Clearwater Paper by 158.2% during the 3rd quarter. Royce & Associates LP now owns 25,340 shares of the basic materials company's stock valued at $723,000 after purchasing an additional 15,525 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Clearwater Paper by 63.9% during the 3rd quarter. Victory Capital Management Inc. now owns 50,240 shares of the basic materials company's stock valued at $1,434,000 after purchasing an additional 19,580 shares in the last quarter. Institutional investors own 89.98% of the company's stock.

Clearwater Paper Stock Up 0.3 %

Shares of NYSE CLW traded up $0.09 during trading on Friday, hitting $26.80. 200,566 shares of the company traded hands, compared to its average volume of 251,643. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.13 and a current ratio of 1.78. The business's fifty day moving average is $27.47 and its 200 day moving average is $39.08. The firm has a market capitalization of $444.08 million, a price-to-earnings ratio of 31.15 and a beta of 0.34. Clearwater Paper Co. has a fifty-two week low of $24.17 and a fifty-two week high of $57.13.

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

Analyst Ratings Changes

CLW has been the topic of several recent analyst reports. StockNews.com lowered Clearwater Paper from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. Royal Bank of Canada reiterated an "outperform" rating and issued a $37.00 price objective on shares of Clearwater Paper in a research note on Tuesday, November 5th.

About Clearwater Paper

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.