Neuberger Berman Group LLC reduced its position in shares of Clarcor Inc. (NYSE:CLC) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,176,174 shares of the company’s stock after selling 134,173 shares during the period. Neuberger Berman Group LLC owned approximately 4.48% of Clarcor worth $141,451,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in CLC. Creative Planning increased its position in shares of Clarcor by 30.5% in the third quarter. Creative Planning now owns 1,548 shares of the company’s stock worth $101,000 after buying an additional 362 shares during the period. Victory Capital Management Inc. increased its position in shares of Clarcor by 76.9% in the second quarter. Victory Capital Management Inc. now owns 1,792 shares of the company’s stock worth $109,000 after buying an additional 779 shares during the period. LS Investment Advisors LLC increased its position in shares of Clarcor by 74.9% in the second quarter. LS Investment Advisors LLC now owns 2,994 shares of the company’s stock worth $182,000 after buying an additional 1,282 shares during the period. Eqis Capital Management Inc. acquired a new position in shares of Clarcor during the third quarter worth about $201,000. Finally, World Asset Management Inc acquired a new position in shares of Clarcor during the third quarter worth about $205,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.
Shares of Clarcor Inc. (NYSE:CLC) traded up 1.85% on Friday, hitting $70.85. The stock had a trading volume of 77,793 shares. The stock has a 50 day moving average of $64.09 and a 200-day moving average of $62.35. The stock has a market cap of $3.44 billion, a PE ratio of 24.27 and a beta of 1.06. Clarcor Inc. has a 12 month low of $44.13 and a 12 month high of $70.86.
Clarcor (NYSE:CLC) last released its earnings results on Wednesday, September 14th. The company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.04. The company 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 quarter last year, the business posted $0.66 EPS. Equities research analysts anticipate that Clarcor Inc. will post $2.60 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 4th. Stockholders of record on Monday, October 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Thursday, October 13th. This is a boost from Clarcor’s previous quarterly dividend of $0.22. Clarcor’s dividend payout ratio (DPR) is presently 34.25%.
A number of research analysts have issued reports on CLC shares. Zacks Investment Research upgraded Clarcor from a “sell” rating to a “hold” rating and set a $73.00 price objective for the company in a research note on Monday, August 29th. Robert W. Baird upped their price objective on Clarcor from $61.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, September 16th. Five analysts have rated the stock with 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.
Clarcor Company Profile