Y Intercept Hong Kong Ltd Takes Position in Clearwater Paper Co. (NYSE:CLW)

Y Intercept Hong Kong Ltd bought a new stake in Clearwater Paper Co. (NYSE:CLW - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 30,745 shares of the basic materials company's stock, valued at approximately $877,000. Y Intercept Hong Kong Ltd owned about 0.19% of Clearwater Paper as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Innealta Capital LLC purchased a new stake in shares of Clearwater Paper in the 2nd quarter valued at $52,000. nVerses Capital LLC acquired a new position in Clearwater Paper during the third quarter valued at $74,000. DekaBank Deutsche Girozentrale purchased a new stake in Clearwater Paper in the second quarter valued at $153,000. Caxton Associates LP purchased a new stake in Clearwater Paper in the second quarter valued at $200,000. Finally, Paloma Partners Management Co acquired a new stake in Clearwater Paper during the 3rd quarter worth about $209,000. Institutional investors and hedge funds own 89.98% of the company's stock.

Clearwater Paper Price Performance

Shares of CLW traded down $0.46 during mid-day trading on Friday, reaching $24.60. 374,761 shares of the company's stock were exchanged, compared to its average volume of 253,101. The company has a market cap of $407.54 million, a price-to-earnings ratio of 29.15 and a beta of 0.33. The company has a 50-day simple moving average of $26.89 and a two-hundred day simple moving average of $36.65. Clearwater Paper Co. has a 52-week low of $23.97 and a 52-week high of $57.13. The company has a quick ratio of 1.13, a current ratio of 1.78 and a debt-to-equity ratio of 1.72.

Clearwater Paper announced that its Board of Directors has authorized a share repurchase program on Monday, November 4th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the basic materials company to repurchase up to 23.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CLW. Royal Bank of Canada reaffirmed an "outperform" rating and set a $37.00 target price on shares of Clearwater Paper in a research note on Tuesday, November 5th. StockNews.com lowered shares of Clearwater Paper from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th.

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.