Deprince Race & Zollo Inc. Sells 78,510 Shares of Clarus Co. (NASDAQ:CLAR)

Deprince Race & Zollo Inc. cut its holdings in Clarus Co. (NASDAQ:CLAR) by 4.9% in the fourth quarter, Holdings Channel reports. The fund owned 1,521,762 shares of the company’s stock after selling 78,510 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Clarus were worth $6,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its position in shares of Clarus by 26.6% during the fourth quarter. Wells Fargo & Company MN now owns 18,119 shares of the company’s stock valued at $82,000 after buying an additional 3,810 shares during the last quarter. Bank of America Corp DE lifted its position in Clarus by 14.6% during the fourth quarter. Bank of America Corp DE now owns 33,093 shares of the company’s stock valued at $149,000 after acquiring an additional 4,211 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Clarus by 38.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 15,864 shares of the company’s stock valued at $72,000 after acquiring an additional 4,371 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Clarus by 25.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 22,123 shares of the company’s stock worth $100,000 after purchasing an additional 4,453 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of Clarus by 5.1% during the fourth quarter. Empowered Funds LLC now owns 100,168 shares of the company’s stock worth $452,000 after purchasing an additional 4,880 shares in the last quarter. 90.30% of the stock is currently owned by institutional investors.

Clarus Trading Up 2.1 %

CLAR opened at $3.48 on Friday. Clarus Co. has a 12-month low of $3.18 and a 12-month high of $7.24. The firm has a 50 day moving average of $3.67 and a two-hundred day moving average of $4.28. The firm has a market capitalization of $133.64 million, a PE ratio of 26.77 and a beta of 0.87.

Clarus (NASDAQ:CLAR) last issued its earnings results on Thursday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.11). Clarus had a negative return on equity of 2.17% and a net margin of 1.80%. As a group, analysts predict that Clarus Co. will post -0.06 EPS for the current fiscal year.

Clarus Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 19th will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Monday, May 19th. Clarus’s dividend payout ratio (DPR) is -7.35%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CLAR. Stifel Nicolaus lowered their price objective on Clarus from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Lake Street Capital lowered their target price on shares of Clarus from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Finally, B. Riley cut their price target on shares of Clarus from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.75.

Clarus Profile

Clarus Corporation designs, develops, manufactures, and distributes outdoor equipment and lifestyle products in the United States and internationally. The company operates through two segments, Outdoor and Adventure. The Outdoor segment offers apparels, such as shells, insulation, midlayers, pants, and logowear; rock-climbing footwear and equipment, including carabiners, protection devices, harnesses, belay devices, helmets, and ice-climbing gears; technical backpacks and day packs; trekking poles; headlamps and lanterns; gloves and mittens; and skis, ski poles, ski skins, avalanche airbag systems, avalanche transceivers, shovels, and probes.