Clarcor Inc. (NYSE:CLC) declared a quarterly dividend on Monday, September 26th. Stockholders of record on Monday, October 17th will be given a dividend of 0.25 per share on Friday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. This is a positive change from Clarcor’s previous quarterly dividend of $0.22.
Clarcor (NYSE:CLC) opened at 63.61 on Tuesday. The stock has a 50 day moving average price of $63.95 and a 200 day moving average price of $60.24. Clarcor has a 52-week low of $44.13 and a 52-week high of $66.59. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 21.79 and a beta of 1.18.
Clarcor (NYSE:CLC) last issued its quarterly earnings results on Wednesday, September 14th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.04. The business earned $331.40 million during the quarter, compared to analysts’ expectations of $339.43 million. Clarcor had a return on equity of 11.60% and a net margin of 10.35%. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 earnings per share. Analysts anticipate that Clarcor will post $2.60 EPS for the current fiscal year.
Several equities research analysts recently issued reports on CLC shares. Zacks Investment Research upgraded Clarcor from a “sell” rating to a “hold” rating and set a $73.00 price target for the company in a research note on Monday, August 29th. Robert W. Baird upped their target price on Clarcor from $61.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, September 16th. CL King restated a “neutral” rating on shares of Clarcor in a research note on Wednesday, June 8th. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of Clarcor in a research note on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $68.50.
In other news, CEO Christopher Conway sold 1,500 shares of the stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $62.18, for a total value of $93,270.00. Following the completion of the transaction, the chief executive officer now directly owns 16,523 shares in the company, valued at approximately $1,027,400.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Joseph Fallon sold 25,000 shares of the stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $62.14, for a total value of $1,553,500.00. Following the completion of the transaction, the chief financial officer now owns 28,217 shares of the company’s stock, valued at $1,753,404.38. The disclosure for this sale can be found here. Company insiders own 2.96% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Investment Management LLC boosted its position in shares of Clarcor by 2.2% in the second quarter. BlackRock Investment Management LLC now owns 297,510 shares of the company’s stock worth $18,098,000 after buying an additional 6,374 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Clarcor by 1.1% in the second quarter. Ameritas Investment Partners Inc. now owns 11,380 shares of the company’s stock worth $692,000 after buying an additional 127 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in Clarcor by 7.1% in the second quarter. Segall Bryant & Hamill LLC now owns 19,658 shares of the company’s stock worth $1,196,000 after buying an additional 1,301 shares during the last quarter. Reliance Trust Co. of Delaware increased its stake in Clarcor by 1.1% in the second quarter. Reliance Trust Co. of Delaware now owns 6,037 shares of the company’s stock worth $368,000 after buying an additional 66 shares during the last quarter. Finally, Trexquant Investment LP increased its stake in Clarcor by 23.8% in the second quarter. Trexquant Investment LP now owns 7,674 shares of the company’s stock worth $467,000 after buying an additional 1,474 shares during the last quarter. Institutional investors own 90.30% of the company’s stock.
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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