Steven Cohen’s SAC Capital Buys More $CLW

Steven Cohen’s SAC Capital Advisors revealed on October 21st that it now has 1,233,595 shares in Clearwater Paper Corporation (CLW), or 5.4% stake. As reported in its last 13F filing, SAC Capital increased its position by 269% to 43,701 shares in CLW in the second quarter, so now its position is almost tripled. CLW slumped in the second quarter and had a mixed path after then, with a large volatility and small trading volume. The stock has slightly lost 8% year to date and is priced at $36.12 now. SAC Capital might entered near $35 on October 3rd. 

Eighteen hedge funds had CLW in their portfolios in the second quarter. Chuck Royce’s Royce & Associates had the most, with 1.03 million shares or 4.38% stake in CLW, up by 18% from Q1. David Gallo’s Valinor Management increased its position by 45% and owned 883 thousand shares, corresponding to a 3.87% stake. Jim Simons’ Renaissance Technologies had 68 thousand shares at that time.

Stamford, Connecticut-based SAC Capital is founded by Steven Cohen in 1992. SAC is a diversified hedge fund that uses both fundamental and quantitative analysis based approaches. Cohen is one of the legendary traders and a billionaire. He is estimated to have an $8 Billion new worth.

Clearwater Paper Corporation is a private label tissue and paperboard products producer. The company primarily pulp-bases and manufactures its products at 13 manufacturing locations in the United States and one in Canada. It offers consumer tissue, away-from-home tissue, parent roll tissue, machine-glazed tissue, foam, bleached paperboard, pulp and wood products. The company operates Consumer Products segment and Pulp and Paperboard segment, and markets its products to retailers and wholesale distributors. It acquired Cellu Tissue Holdings, Inc. on December 27, 2010. The company is based in Spokane, Washington.