Clarcor Inc. (NYSE:CLC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Clarcor Inc. is a diversified marketer and manufacturer of mobile, industrial and environmental filtration products and consumer and industrial packaging products sold in domestic and international markets. “
Separately, Robert W. Baird increased their target price on shares of Clarcor from $61.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, September 16th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $68.50.
Clarcor (NYSE:CLC) opened at 70.85 on Thursday. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 24.27 and a beta of 1.06. Clarcor has a 12-month low of $44.13 and a 12-month high of $70.86. The stock’s 50 day moving average price is $64.09 and its 200 day moving average price is $62.35.
Clarcor (NYSE:CLC) last posted its earnings results on Wednesday, September 14th. The company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.04. The firm had revenue of $331.40 million for the quarter, compared to the consensus estimate of $339.43 million. Clarcor had a net margin of 10.35% and a return on equity of 11.60%. The business’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. On average, equities research analysts anticipate that Clarcor will post $2.60 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 4th. Shareholders of record on Monday, October 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.41%. This is a boost from Clarcor’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, October 13th. Clarcor’s dividend payout ratio is 34.25%.
A number of large investors have recently added to or reduced their stakes in CLC. Creative Planning boosted its stake in 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. Advisor Group Inc. boosted its stake in Clarcor by 12.8% in the third quarter. Advisor Group Inc. now owns 1,653 shares of the company’s stock worth $107,000 after buying an additional 187 shares during the period. Victory Capital Management Inc. boosted its stake in 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 boosted 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 during the last quarter. Finally, Eqis Capital Management Inc. bought a new stake in Clarcor during the third quarter valued at $201,000. Institutional investors own 89.79% of the company’s stock.
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.