Clearwater Paper (NYSE:CLW) Sets New 52-Week High After Strong Earnings

Clearwater Paper Co. (NYSE:CLW) shares hit a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $47.98 and last traded at $47.28, with a volume of 115387 shares traded. The stock had previously closed at $40.69.

The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.32. Clearwater Paper had a net margin of 5.17% and a return on equity of 18.13%. The firm had revenue of $496.20 million for the quarter. During the same quarter in the prior year, the company posted $1.47 EPS.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Clearwater Paper from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 22nd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc raised its holdings in Clearwater Paper by 11.2% during the 3rd quarter. TD Asset Management Inc now owns 18,900 shares of the basic materials company’s stock valued at $685,000 after buying an additional 1,900 shares during the last quarter. Panagora Asset Management Inc. increased its position in Clearwater Paper by 6.4% during the 3rd quarter. Panagora Asset Management Inc. now owns 99,392 shares of the basic materials company’s stock valued at $3,603,000 after purchasing an additional 5,980 shares during the period. Assenagon Asset Management S.A. raised its holdings in Clearwater Paper by 47.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 153,165 shares of the basic materials company’s stock worth $5,552,000 after purchasing an additional 49,141 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Clearwater Paper in the 3rd quarter worth about $358,000. Finally, Illinois Municipal Retirement Fund bought a new stake in shares of Clearwater Paper during the 3rd quarter valued at about $379,000. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Paper Price Performance

The company has a quick ratio of 0.85, a current ratio of 1.97 and a debt-to-equity ratio of 0.69. The firm’s 50-day moving average is $40.45 and its 200-day moving average is $37.05. The company has a market cap of $757.45 million, a PE ratio of 7.25 and a beta of 0.52.

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.