Louisiana State Employees Retirement System Sells 600 Shares of Clarcor Inc. (CLC)
Louisiana State Employees Retirement System lowered its stake in shares of Clarcor Inc. (NYSE:CLC) by 4.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 12,900 shares of the company’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Clarcor were worth $785,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CLC. Nuveen Asset Management LLC boosted its position in Clarcor by 221.0% in the first quarter. Nuveen Asset Management LLC now owns 76,825 shares of the company’s stock valued at $4,440,000 after buying an additional 52,893 shares in the last quarter. Atlanta Capital Management Co. L L C boosted its position in Clarcor by 1.0% in the first quarter. Atlanta Capital Management Co. L L C now owns 3,761,366 shares of the company’s stock valued at $217,369,000 after buying an additional 38,973 shares in the last quarter. Geode Capital Management LLC boosted its position in Clarcor by 11.8% in the first quarter. Geode Capital Management LLC now owns 346,728 shares of the company’s stock valued at $20,037,000 after buying an additional 36,504 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Clarcor by 56,821.1% in the second quarter. BNP Paribas Arbitrage SA now owns 21,630 shares of the company’s stock valued at $1,316,000 after buying an additional 21,592 shares in the last quarter. Finally, A.R.T. Advisors LLC acquired a new position in Clarcor during the first quarter valued at $990,000. 90.58% of the stock is currently owned by institutional investors.
Shares of Clarcor Inc. (NYSE:CLC) traded down 2.42% during mid-day trading on Friday, hitting $63.28. The company’s stock had a trading volume of 165,076 shares. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 21.68 and a beta of 1.15. The stock’s 50 day moving average price is $64.26 and its 200 day moving average price is $60.81. Clarcor Inc. has a 52-week low of $44.13 and a 52-week high of $66.59.
Clarcor (NYSE:CLC) last announced its 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. 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 analyst estimates of $339.43 million. During the same quarter in the prior year, the company earned $0.66 EPS. The business’s revenue was down 7.3% compared to the same quarter last year. Equities analysts forecast that Clarcor Inc. will post $2.60 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 4th. Stockholders of record on Monday, October 17th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.58%. This is a positive change from Clarcor’s previous quarterly dividend of $0.22. Clarcor’s dividend payout ratio is currently 30.14%.
Several research firms have weighed in on CLC. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Clarcor in a research report on Thursday, June 16th. Zacks Investment Research cut Clarcor from a “buy” rating to a “sell” rating in a research report on Monday, September 19th. Finally, Robert W. Baird boosted their price objective on Clarcor from $61.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. 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 that occurred 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 owns 16,523 shares of the company’s stock, 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, Director Robert J. Burgstahler sold 7,500 shares of the stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $62.00, for a total value of $465,000.00. Following the completion of the transaction, the director now directly owns 33,953 shares of the company’s stock, valued at approximately $2,105,086. The disclosure for this sale can be found here. 2.96% of the stock is owned by insiders.
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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