UBS Asset Management Americas Inc. lowered its stake in Clarcor Inc. (NYSE:CLC) by 30.5% during the second quarter, Holdings Channel reports. The institutional investor owned 48,356 shares of the company’s stock after selling 21,244 shares during the period. UBS Asset Management Americas Inc. owned 0.10% of Clarcor worth $2,941,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. 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 valued at $182,000 after buying an additional 1,282 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Clarcor during the second quarter valued at approximately $213,000. BB&T Securities LLC purchased a new position in shares of Clarcor during the first quarter valued at approximately $223,000. Calvert Investment Management Inc. purchased a new position in shares of Clarcor during the second quarter valued at approximately $231,000. Finally, Capstone Asset Management Co. raised its position in shares of Clarcor by 0.8% in the second quarter. Capstone Asset Management Co. now owns 3,846 shares of the company’s stock valued at $234,000 after buying an additional 30 shares during the last quarter. Institutional investors own 90.58% of the company’s stock.
Clarcor Inc. (NYSE:CLC) traded up 1.51% on Wednesday, reaching $64.59. The company had a trading volume of 32,581 shares. The company has a 50-day moving average of $64.15 and a 200 day moving average of $60.71. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 22.13 and a beta of 1.15. Clarcor Inc. has a one year low of $44.13 and a one year high of $66.59.
Clarcor (NYSE:CLC) last released its quarterly earnings results on Wednesday, September 14th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.04. The company earned $331.40 million during the quarter, compared to the consensus estimate of $339.43 million. Clarcor had a return on equity of 11.60% and a net margin of 10.35%. The firm’s revenue was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 EPS. On average, equities research analysts predict that Clarcor Inc. will post $2.60 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 4th. Investors of record on Monday, October 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, October 13th. This is a boost from Clarcor’s previous quarterly dividend of $0.22. Clarcor’s payout ratio is currently 30.14%.
Several brokerages have recently commented on CLC. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Clarcor in a research report on Thursday, June 16th. Zacks Investment Research lowered Clarcor from a “buy” rating to a “sell” rating in a research report on Monday, September 19th. CL King reiterated a “neutral” rating on shares of Clarcor in a research report on Wednesday, June 8th. Finally, Robert W. Baird lifted their target price on Clarcor from $61.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, September 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Clarcor currently has an average rating of “Hold” and a consensus target price of $68.50.
In related news, CEO Christopher Conway sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $62.18, for a total transaction of $93,270.00. Following the completion of the transaction, the chief executive officer now owns 16,523 shares of the company’s stock, valued at approximately $1,027,400.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David J. Lindsay sold 44,000 shares of the business’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $62.14, for a total value of $2,734,160.00. Following the transaction, the vice president now directly owns 25,676 shares of the company’s stock, valued at approximately $1,595,506.64. The disclosure for this sale can be found here. Corporate insiders own 2.96% of the company’s stock.
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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