Wedge Capital Management L L P NC Grows Stake in Clearwater Paper Co. (NYSE:CLW)

Wedge Capital Management L L P NC boosted its stake in shares of Clearwater Paper Co. (NYSE:CLW - Free Report) by 14.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 141,130 shares of the basic materials company's stock after purchasing an additional 18,139 shares during the period. Wedge Capital Management L L P NC owned approximately 0.85% of Clearwater Paper worth $4,201,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. raised its position in shares of Clearwater Paper by 45.2% in the third quarter. Pacer Advisors Inc. now owns 1,887,015 shares of the basic materials company's stock worth $53,855,000 after acquiring an additional 587,043 shares during the period. Readystate Asset Management LP acquired a new position in Clearwater Paper in the 3rd quarter worth about $1,978,000. Intech Investment Management LLC acquired a new position in Clearwater Paper in the 3rd quarter worth about $1,043,000. Y Intercept Hong Kong Ltd acquired a new stake in Clearwater Paper in the third quarter valued at approximately $877,000. Finally, Cinctive Capital Management LP purchased a new stake in shares of Clearwater Paper in the third quarter valued at approximately $815,000. Hedge funds and other institutional investors own 89.98% of the company's stock.

Clearwater Paper Trading Up 1.6 %

Shares of Clearwater Paper stock traded up $0.49 on Monday, reaching $30.24. The company had a trading volume of 394,658 shares, compared to its average volume of 502,744. 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 firm has a market cap of $500.99 million, a PE ratio of 35.16 and a beta of 0.32. The firm's 50 day moving average price is $27.86 and its two-hundred day moving average price is $32.38. Clearwater Paper Co. has a 52-week low of $23.97 and a 52-week high of $57.13.

Clearwater Paper announced that its Board of Directors has initiated a stock repurchase plan on Monday, November 4th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 23.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. 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 set a $37.00 price target on shares of Clearwater Paper in a research report on Tuesday, November 5th.

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.