Cove Street Capital LLC Acquires 192,099 Shares of Clarus Co. (NASDAQ:CLAR)

Cove Street Capital LLC lifted its holdings in Clarus Co. (NASDAQ:CLAR - Free Report) by 182.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 297,431 shares of the company's stock after acquiring an additional 192,099 shares during the period. Clarus accounts for approximately 1.6% of Cove Street Capital LLC's holdings, making the stock its 26th biggest holding. Cove Street Capital LLC owned 0.78% of Clarus worth $1,341,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peapod Lane Capital LLC bought a new position in Clarus during the fourth quarter valued at $2,153,000. First Eagle Investment Management LLC grew its holdings in Clarus by 34.3% during the 4th quarter. First Eagle Investment Management LLC now owns 785,200 shares of the company's stock valued at $3,541,000 after purchasing an additional 200,500 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Clarus by 43.0% during the 4th quarter. Bank of New York Mellon Corp now owns 372,936 shares of the company's stock valued at $1,682,000 after purchasing an additional 112,099 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Clarus in the 3rd quarter worth about $420,000. Finally, American Century Companies Inc. lifted its stake in Clarus by 13.1% in the fourth quarter. American Century Companies Inc. now owns 548,172 shares of the company's stock worth $2,472,000 after purchasing an additional 63,342 shares during the last quarter. Hedge funds and other institutional investors own 90.30% of the company's stock.

Analyst Upgrades and Downgrades

CLAR has been the topic of several recent analyst reports. Lake Street Capital reduced their price target on Clarus from $5.50 to $5.00 and set a "buy" rating on the stock in a report on Friday, March 7th. B. Riley cut their price objective on Clarus from $5.50 to $5.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Clarus presently has an average rating of "Hold" and a consensus target price of $5.33.

Clarus Price Performance

Shares of NASDAQ:CLAR traded down $0.23 during trading on Thursday, reaching $3.60. 121,855 shares of the company were exchanged, compared to its average volume of 231,258. The business's fifty day simple moving average is $4.44 and its 200-day simple moving average is $4.49. Clarus Co. has a 12-month low of $3.48 and a 12-month high of $7.55. The firm has a market capitalization of $138.10 million, a PE ratio of 27.69 and a beta of 0.85.

Clarus Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Monday, March 17th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.10 annualized dividend and a dividend yield of 2.78%. Clarus's dividend payout ratio is currently -7.35%.

About Clarus

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.