EU and US could reach trade deal this weekend - Reuters
In a recent transaction disclosed in an SEC filing, Kari G. Moyes, Senior Vice President of Human Resources at Clearwater Paper Corp (NYSE:CLW), sold 2,778 shares of the company’s common stock. According to InvestingPro data, the stock is currently trading near its 52-week low of $23.97, having declined about 8% in the past week. The shares were sold at a price of $26.72 each, amounting to a total transaction value of $74,228. Following this sale, Moyes retains ownership of 83,799 shares in the company. This transaction was carried out under a 10b5-1 trading plan, as noted in the filing. While the company isn’t currently profitable, InvestingPro analysis indicates expected profitability this year, with several additional insights available in the comprehensive Pro Research Report covering this $406M market cap company.
In other recent news, Clearwater Paper Corporation has become the subject of acquisition interest from Suzano SA, according to reports. RBC Capital Markets has maintained an Outperform rating for Clearwater Paper, setting a price target of $37.00. Bloomberg reports that Suzano, a major player in the global pulp and paper industry, is contemplating a takeover bid for Clearwater Paper, with the assistance of an advisor. Suzano has expressed interest in expanding its North American packaging assets and has been active in acquisitions, including purchasing two mills from Pactiv Evergreen earlier this year.
Despite the lack of official statements from either Suzano or Clearwater Paper, the potential acquisition aligns with Suzano’s strategic goals. Analysts from RBC Capital have identified Suzano as a likely buyer in this market segment. Suzano’s Chief Financial Officer has previously indicated that the company is evaluating new acquisitions in the United States. The market is keenly observing for any official updates or developments in these discussions.
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