Victory Capital Management Inc. Buys 19,580 Shares of Clearwater Paper Co. (NYSE:CLW)

Victory Capital Management Inc. boosted its holdings in shares of Clearwater Paper Co. (NYSE:CLW - Free Report) by 63.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,240 shares of the basic materials company's stock after purchasing an additional 19,580 shares during the period. Victory Capital Management Inc. owned about 0.30% of Clearwater Paper worth $1,434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Innealta Capital LLC purchased a new position in shares of Clearwater Paper during the second quarter valued at approximately $52,000. GAMMA Investing LLC raised its holdings in Clearwater Paper by 30.3% in 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 in the last quarter. nVerses Capital LLC bought a new position in Clearwater Paper in the 3rd quarter worth $74,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Clearwater Paper in the 2nd quarter worth about $153,000. Finally, Caxton Associates LP bought a new stake in shares of Clearwater Paper during the 2nd quarter valued at about $200,000. Institutional investors own 89.98% of the company's stock.

Wall Street Analyst Weigh In

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

Clearwater Paper Stock Down 2.2 %

Shares of CLW stock traded down $0.60 during mid-day trading on Tuesday, reaching $27.03. 251,701 shares of the company's stock traded hands, compared to its average volume of 252,042. 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 company's 50-day moving average price is $27.37 and its 200-day moving average price is $38.65. The company has a market cap of $447.80 million, a P/E ratio of 31.16 and a beta of 0.34. Clearwater Paper Co. has a 12 month low of $24.17 and a 12 month high of $57.13.

Clearwater Paper declared that its board has initiated a stock buyback plan on Monday, November 4th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the basic materials company to purchase up to 23.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board believes its shares are 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.