Clarcor cuts guidance after flat Q2 profits

Executives at filtration and packaging manufacturer Clarcor said their 2014 acquisitions helped grow second-quarter profits 11 percent versus a year ago to $38.5 million. Sales climbed 3 percent from last spring to $400 million. Excluding various one-time events from those acquisitions, however, profits fell slightly. Chairman, President and CEO Chris Conway and his team have lowered their 2105 EPS guidance range about 5 percent to between $3.00 and $3.15 per share because of continued expected weakness in engine filtration sales, especially overseas.

Shares of Clarcor (Ticker: CLC) are down to about $63.10 slightly Friday morning after jumping Thursday on the back of the earnings news. Year to date, they're down about 5 percent.

Jun 19, 2015 10:19 AM

Earnings wrap: Clarcor, First Farmers

Manufacturer sees margins rising this year, bank benefits from expense cuts
Mar 20, 2015 1:14 PM

Claror CEO gets $100K raise

Other execs also benefit from company's growth, push to get them in line with peers
Feb 27, 2015 7:05 AM

Clarcor Q4 up 30%+

Filtration maker sees rising margins in '15
Jan 15, 2015 2:38 PM

Clarcor buys companies catering to Gulf petrochemical sector

Longtime distributor has revenues of $20M
Dec 19, 2014 6:52 AM

Clarcor hikes dividend again

The directors of Clarcor have voted to hike the Franklin-based company's quarterly dividend by about 18 percent to 20 cents per share. Investors of record on Oct. 10 will be paid a week later. The filtration and packaging company (Ticker: CLC) has now grown its dividends every year since 1983.

Sep 29, 2014 11:03 AM

Clarcor insiders book $2M+ in option profits

It's time to add Clarcor to the list of local companies whose executives and board members are taking profits in the stock market. Early this week, three of the company's board members and two of its executives collectively booked gains of more than $2 million on stock option transactions. Leading the way was Chief Administrative Officer David Lindsay, whose gains topped $1.4 million. Directors Philip Lochner and Robert Jenkins booked about $640,000 and $285,000, respectively, in profits while former Bridgestone boss Mark Emkes pocketed gains of about $140,000 and General Counsel Richard Wolfson booked a profit of about $80,000.

Shares of Clarcor (Ticker: CLC) closed Thursday at $63.16. They have climbed about 10 percent over the past six months.

Sep 26, 2014 9:48 AM

Clarcor sees acquisitions start to pay off

Manufacturer raises guidance on back of successful integrations, lower interest costs
Sep 18, 2014 1:52 PM

Analyst action: Pinnacle, Clarcor

Kevin Reynolds at Wunderlich Securities has raised his price target for shares of Pinnacle Financial Partners to $40 from $37 after the bank holding company reported its Q2 numbers. Reynolds says investors shouldn't put too much stock in the earnings beat because of a smaller loan loss provision, but he nonetheless likes Pinnacle's long-term prospects. Pinnacle shares (Ticker: PNFP) closed Thursday trading at $36.05 and are up 11 percent so far in 2014.

At Robert W. Baird, analyst Richard Eastman has hiked his rating on Clarcor shares to 'outperform' from 'neutral,' citing better fundamentals, the benefit of recent acquisitions and a decent valuation. He sees Clarcor (Ticker: CLC), which closed Thursday at $60.46, climbing to $67 in the coming quarters.

Jul 18, 2014 7:19 AM

Clarcor to build Maury R&D hub

Manufacturer to add 35 jobs over five years; shares jump after big Q1 beat
Jun 19, 2014 6:53 AM