Principal Financial Group Inc. raised its stake in Clarcor Inc. (NYSE:CLC) by 14.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,722 shares of the company’s stock after buying an additional 23,079 shares during the period. Principal Financial Group Inc. owned approximately 0.38% of Clarcor worth $11,175,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Clarcor by 76.9% in the second quarter. Victory Capital Management Inc. now owns 1,792 shares of the company’s stock worth $109,000 after buying an additional 779 shares during the period. LS Investment Advisors LLC increased its stake in Clarcor by 74.9% in the second quarter. LS Investment Advisors LLC now owns 2,994 shares of the company’s stock worth $182,000 after buying an additional 1,282 shares during the period. Fox Run Management L.L.C. purchased a new stake in Clarcor during the second quarter worth $213,000. BB&T Securities LLC purchased a new stake in Clarcor during the first quarter worth $223,000. Finally, Calvert Investment Management Inc. purchased a new stake in Clarcor during the second quarter worth $231,000. 90.58% of the stock is owned by institutional investors.
Clarcor Inc. (NYSE:CLC) opened at 61.60 on Thursday. Clarcor Inc. has a 52 week low of $44.13 and a 52 week high of $66.59. The company has a market capitalization of $2.99 billion, a P/E ratio of 21.10 and a beta of 1.15. The company has a 50 day moving average price of $64.10 and a 200-day moving average price of $60.91.
Clarcor (NYSE:CLC) last posted its earnings results on Wednesday, September 14th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. Clarcor had a return on equity of 11.60% and a net margin of 10.35%. The firm earned $331.40 million during the quarter, compared to analysts’ expectations of $339.43 million. During the same period in the previous year, the firm earned $0.66 earnings per share. The company’s revenue was down 7.3% on a year-over-year basis. On average, equities analysts anticipate that Clarcor Inc. will post $2.60 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 4th. Shareholders of record on Monday, October 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.59%. This is a boost from Clarcor’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, October 13th. Clarcor’s payout ratio is presently 30.14%.
A number of research firms have recently weighed in on CLC. Zacks Investment Research downgraded Clarcor from a “buy” rating to a “sell” rating in a research note on Monday, September 19th. Robert W. Baird raised their price target on Clarcor from $61.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, September 16th. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Clarcor in a research note on Thursday, June 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Clarcor presently has an average rating of “Hold” and an average target price of $68.50.
Clarcor Company Profile
CLARCOR Inc provides filtration products, filtration systems and services, and consumer and industrial packaging products. The Company’s segments include Engine/Mobile Filtration and Industrial/Environmental Filtration. Its Engine/Mobile Filtration segment manufactures and sells filtration products for on-road and off-road mobile and stationary applications, including trucks, agricultural machinery, transit buses, locomotives, and other industrial and specialty applications.
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