Clarus Corporation (CLAR) to Issue Quarterly Dividend of $0.03 on May 27th

Clarus Corporation (NASDAQ:CLAR) announced a quarterly dividend on Wednesday, May 6th. Stockholders of record on Monday, May 18th will be paid a dividend of 0.025 per share on Wednesday, May 27th. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, May 18th.

Clarus has a dividend payout ratio of -66.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Clarus to earn $0.12 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 83.3%.

Clarus Stock Performance

Shares of CLAR opened at $2.89 on Friday. The stock has a market capitalization of $111.09 million, a PE ratio of -2.39 and a beta of 1.02. Clarus has a 1 year low of $2.58 and a 1 year high of $4.03. The company’s 50-day simple moving average is $2.82 and its 200-day simple moving average is $3.24.

Clarus (NASDAQ:CLAR) last issued its quarterly earnings results on Thursday, March 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. The business had revenue of $65.41 million for the quarter, compared to analysts’ expectations of $68.67 million. Clarus had a negative net margin of 18.59% and a negative return on equity of 0.82%. On average, sell-side analysts predict that Clarus will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Clarus

Hedge funds have recently added to or reduced their stakes in the stock. Abel Hall LLC purchased a new position in Clarus in the fourth quarter valued at approximately $39,000. Verition Fund Management LLC purchased a new position in Clarus in the third quarter valued at approximately $50,000. Quadrature Capital Ltd purchased a new position in Clarus in the fourth quarter valued at approximately $56,000. Virtu Financial LLC purchased a new position in Clarus in the fourth quarter valued at approximately $62,000. Finally, Millennium Management LLC purchased a new position in Clarus in the fourth quarter valued at approximately $70,000. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

About Clarus

Clarus Corporation (NASDAQ: CLAR) is a global designer, manufacturer and marketer of outdoor recreation equipment. The company’s portfolio of brands serves enthusiasts across climbing, skiing, trail running, paddling and snow safety, combining purpose-driven innovation with in-house manufacturing capabilities. Clarus focuses on high-performance gear developed to meet the demands of professional athletes and recreational users alike.

The company’s flagship brand, Black Diamond Equipment, offers climbing protection, apparel, ski bindings and accessories engineered for backcountry and alpine environments.