Bank of New York Mellon Corp Purchases Shares of 36,547 Clearfield, Inc. $CLFD

Bank of New York Mellon Corp acquired a new position in Clearfield, Inc. (NASDAQ:CLFD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 36,547 shares of the communications equipment provider's stock, valued at approximately $1,454,000. Bank of New York Mellon Corp owned 0.27% of Clearfield as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP bought a new position in Clearfield in the third quarter worth approximately $42,000. Los Angeles Capital Management LLC purchased a new position in Clearfield during the fourth quarter valued at $63,000. Tower Research Capital LLC TRC grew its holdings in Clearfield by 116.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,882 shares of the communications equipment provider's stock valued at $82,000 after purchasing an additional 1,012 shares during the period. State of Wyoming bought a new stake in Clearfield during the second quarter valued at about $96,000. Finally, Strs Ohio purchased a new stake in Clearfield in the first quarter worth about $131,000. Institutional investors own 88.73% of the company's stock.

Clearfield Stock Down 2.4%

Shares of Clearfield stock opened at $28.20 on Thursday. The stock's 50-day simple moving average is $30.35 and its 200-day simple moving average is $33.22. Clearfield, Inc. has a 52 week low of $23.76 and a 52 week high of $52.73. The company has a market capitalization of $383.07 million, a price-to-earnings ratio of -55.29 and a beta of 2.11.

Clearfield (NASDAQ:CLFD - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The communications equipment provider reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. Clearfield had a positive return on equity of 1.61% and a negative net margin of 4.71%.The firm had revenue of $43.86 million during the quarter, compared to analyst estimates of $43.92 million. Clearfield has set its Q4 2026 guidance at 0.000-0.070 EPS and its FY 2026 guidance at 0.140-0.210 EPS. On average, equities analysts expect that Clearfield, Inc. will post 0.23 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings raised Clearfield from a "sell (d-)" rating to a "sell (d)" rating in a research note on Friday, August 21st. Needham & Company LLC cut their price objective on Clearfield from $52.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Finally, Lake Street Capital set a $38.00 target price on shares of Clearfield in a report on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Clearfield currently has a consensus rating of "Moderate Buy" and an average target price of $41.75.

Clearfield Company Profile

Clearfield, Inc NASDAQ: CLFD is a Minneapolis-based company specializing in fiber management products for broadband network deployments. The company's core offerings include fiber distribution hubs, enclosures, splice trays, patching panels and connectivity accessories designed to simplify installation and maintenance of fiber-optic networks. Clearfield's modular FieldSmart™ platform provides a scalable approach for service providers, utilities and enterprise organizations looking to expand or upgrade their fiber infrastructure.

Clearfield serves a diverse customer base that includes cable and internet service providers, telecommunications operators, wireless carriers, utilities and municipalities.

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