Clarcor downsizes revolver

Clarcor has refinanced its $250 million credit line, going with a smaller facility while keeping the option to add debt capacity. The Franklin-based company's new line, which is being managed by Bank of America, is for up to $150 million and will last Clarcor (Ticker: CLC) until 2017.

Apr 9, 2012 6:58 AM

Earnings wrap: Dollar General, Clarcor

Record numbers for both retailer and manufacturer
Mar 22, 2012 7:29 AM

Clarcor JV to build algae plant

BioProcess Algae, a joint venture that includes Franklin-based Clarcor, said it and its partner Green Plains Renewable Energy will soon begin to build a bioreactor that will produce dried algae to be used in various end products. Clarcor owns 15 percent of the venture.

"We continue to work with potential strategic customers including major food, animal feed, energy and pharmaceutical companies around the world," continued Burns. "Often times, this is the first access they have had to larger quantities of wholesale algae. Our goal is to produce algae in a cost effective manner that can be used as the customer sees fit."

Feb 2, 2012 10:28 AM

Clarcor chairman in another big sale

Clarcor Chairman Norm Johnson, who late last year stepped down as CEO of the manufacturer, cashed in another $2.8 million of his stock holdings last Friday and this past Monday. In the past two weeks, the 63-year-old Johnson has sold $5.3 million worth of stock. He and his wife still own about $12 million worth.

Feb 1, 2012 9:32 AM

Clarcor to ramp up cap ex

Fresh from reporting record numbers for fiscal 2011 and forecasting even better performance this year, executives at Clarcor say they plan to spend at least $45 million on plant expansions in the coming 12 months — a number that would double their investments of the past few years.

In their annual report filed last week, officials said "plant asset additions in fiscal year are estimated to be between $45 and $55 million." That number includes land, buildings, furniture and production equipment as well as computers and communications tools. Clarcor spent about $24 million in each of the past two fiscal years and almost $22 million in 2009 on property, plant and equipment. (Search here for "24,171".)

Clarcor execs also say they are looking to rework their $250 million revolving credit facility, which will expire at the end of the year. As of Dec. 31, the company had only $16 million of the line accounted for.

Jan 31, 2012 12:03 PM

Another chunk of change for Clarcor chairman

At this rate, he'll be done by Super Bowl weekend.

Norm Johnson on Tuesday sold 50,000 or so shares of Clarcor, the filtration and packaging company he led until November. The $2.6 million sale came the day after Johnson unloaded a slightly larger block of stock and leaves him with almost 290,000 directly owned shares — which, oh by the way, are trading at all-time highs.

Jan 26, 2012 9:22 AM

Clarcor chairman in $2.7M stock sale

Norm Johnson, who recently turned over the CEO role at Franklin-based Clarcor to Chris Conway, on Monday cashed out more than 50,000 shares of the filtration products maker. The sale was worth almost $2.7 million to Johnson, who is staying on as executive chairman until November. The remaining shares held by Johnson and his wife are worth more than $23 million.

Jan 25, 2012 11:09 AM

Clarcor director cashes out a bit

Shares of Franklin-based Clarcor have climbed steadily in recent months and recently topped $50 for the first time. That apparenty hasn't escaped the attention of director Robert Burgstahler, who on Monday exercised 15,000 stock options that would have expired this March and next and then sold the resulting shares. His gain on the transactions was almost $530,000.

Jan 24, 2012 12:11 PM

Clarcor beats by a nickel

Filtration products maker posts highest margins since early '90s
Jan 19, 2012 6:50 AM

Analyst action: Genesco, Clarcor

Analysts covering two local stocks that have done well in recent months have lifted their price targets. Susquehanna researcher Chris Svezia has lifted his target for high-flying Genesco to $75 from $72. Genesco (Ticker: GCO), which is up 9 percent in the past three months and 70 percent in the past year, closed Wednesday trading at $61.49.

Meanwhile at Robert W. Baird, Richard Eastman has reiterated his 'outperform' rating on Franklin-based filtration products maker Clarcor and hiked his target to $57 from $51. Clarcor shares (Ticker: CLC) closed Wednesday trading at $51.31 and have climbed 14 percent in the past three months. Analysts' median price target stands right at $51.

Jan 12, 2012 8:38 AM