Clarcor Inc. (CLC) Shares Gap Up to $62.77
Clarcor Inc. (NYSE:CLC)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $62.71, but opened at $62.77. Clarcor shares last traded at $63.31, with a volume of 79,634 shares.
A number of equities analysts have recently commented on the stock. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Clarcor in a research note on Thursday, June 16th. Zacks Investment Research downgraded shares of Clarcor from a “buy” rating to a “sell” rating in a research note on Monday. CL King restated a “neutral” rating on shares of Clarcor in a research note on Wednesday, June 8th. Finally, Robert W. Baird increased their price objective on shares of Clarcor from $61.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $68.50.
The stock’s 50 day moving average price is $63.75 and its 200 day moving average price is $59.87. The stock has a market cap of $3.07 billion, a P/E ratio of 21.61 and a beta of 1.18.
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Clarcor (NYSE:CLC) last issued its quarterly earnings data 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. Clarcor had a net margin of 10.35% and a return on equity of 11.60%. The business earned $331.40 million during the quarter, compared to analyst estimates of $339.43 million. During the same period in the prior year, the business earned $0.66 EPS. The company’s revenue for the quarter was down 7.3% on a year-over-year basis. Equities analysts predict that Clarcor Inc. will post $2.60 earnings per share for the current year.
In related news, VP David J. Lindsay sold 44,000 shares of the stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $62.14, for a total value of $2,734,160.00. Following the completion of the transaction, the vice president now directly owns 25,676 shares in the company, valued at approximately $1,595,506.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Conway sold 2,000 shares of the stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $60.81, for a total transaction of $121,620.00. Following the completion of the transaction, the chief executive officer now owns 17,023 shares of the company’s stock, valued at $1,035,168.63. The disclosure for this sale can be found here. 2.96% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. raised 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 valued at $109,000 after buying an additional 779 shares during the last quarter. LS Investment Advisors LLC raised 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 valued at $182,000 after buying an additional 1,282 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Clarcor during the second quarter valued at about $213,000. Calvert Investment Management Inc. acquired a new position in shares of Clarcor during the second quarter valued at about $231,000. Finally, Capstone Asset Management Co. raised its position in shares of 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 during the last quarter. Institutional investors own 90.30% of the company’s stock.
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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