Deprince Race & Zollo Inc. Lowers Position in Clarcor Inc. (CLC)
Deprince Race & Zollo Inc. reduced its stake in shares of Clarcor Inc. (NYSE:CLC) by 39.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 319,038 shares of the company’s stock after selling 209,045 shares during the period. Deprince Race & Zollo Inc.’s holdings in Clarcor were worth $19,407,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LS Investment Advisors LLC raised its position 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. bought a new position in Clarcor during the second quarter valued at $213,000. Capstone Asset Management Co. raised its position in 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 in the last quarter. BB&T Securities LLC bought a new position in Clarcor during the first quarter valued at $223,000. Finally, Quadrature Capital Ltd bought a new position in Clarcor during the first quarter valued at $283,000. Hedge funds and other institutional investors own 90.58% of the company’s stock.
Shares of Clarcor Inc. (NYSE:CLC) traded up 1.30% on Wednesday, hitting $64.46. 492,685 shares of the stock traded hands. Clarcor Inc. has a 52 week low of $44.13 and a 52 week high of $66.59. The firm has a market capitalization of $3.13 billion, a PE ratio of 22.08 and a beta of 1.15. The firm’s 50 day moving average is $64.20 and its 200 day moving average is $60.74.
Clarcor (NYSE:CLC) last announced its quarterly earnings results on Wednesday, September 14th. The company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.04. Clarcor had a net margin of 10.35% and a return on equity of 11.60%. The firm had revenue of $331.40 million for the quarter, compared to analyst estimates of $339.43 million. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The business’s revenue was down 7.3% on a year-over-year basis. On average, analysts expect that Clarcor Inc. will post $2.60 EPS for the current fiscal year.
The business also recently declared 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. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.55%. This is a positive change from Clarcor’s previous quarterly dividend of $0.22. Clarcor’s payout ratio is presently 30.14%.
Several research analysts have weighed in on the stock. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Clarcor in a research note on Thursday, June 16th. Zacks Investment Research lowered shares of Clarcor from a “buy” rating to a “sell” rating in a research note on Monday, September 19th. CL King reiterated a “neutral” rating on shares of Clarcor in a research note on Wednesday, June 8th. Finally, Robert W. Baird increased their price target on shares of Clarcor from $61.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, September 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Clarcor presently has an average rating of “Hold” and a consensus target price of $68.50.
In other news, CEO Christopher Conway sold 2,000 shares of the business’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $60.81, for a total value of $121,620.00. Following the sale, the chief executive officer now owns 17,023 shares of the company’s stock, valued at $1,035,168.63. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP David J. Lindsay sold 44,000 shares of the business’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $62.14, for a total transaction of $2,734,160.00. Following the completion of the sale, the vice president now directly owns 25,676 shares in the company, valued at approximately $1,595,506.64. The disclosure for this sale can be found here. 2.96% of the stock is currently owned by company insiders.
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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