Dorsey & Whitney Trust CO LLC purchased a new stake in Clearfield, Inc. (NASDAQ:CLFD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,250 shares of the communications equipment provider's stock, valued at approximately $334,000. Dorsey & Whitney Trust CO LLC owned about 0.08% of Clearfield at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in CLFD. Vanguard Group Inc. increased its position in Clearfield by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 952,059 shares of the communications equipment provider's stock valued at $28,295,000 after purchasing an additional 7,919 shares during the period. Royce & Associates LP increased its position in shares of Clearfield by 1.3% during the first quarter. Royce & Associates LP now owns 485,009 shares of the communications equipment provider's stock worth $14,414,000 after buying an additional 6,200 shares during the period. Dimensional Fund Advisors LP raised its stake in Clearfield by 17.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 322,378 shares of the communications equipment provider's stock worth $9,994,000 after buying an additional 48,730 shares during the last quarter. Northern Trust Corp lifted its holdings in Clearfield by 9.1% in the fourth quarter. Northern Trust Corp now owns 125,677 shares of the communications equipment provider's stock valued at $3,896,000 after buying an additional 10,476 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Clearfield by 4.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 95,825 shares of the communications equipment provider's stock worth $2,848,000 after acquiring an additional 4,290 shares during the period. Institutional investors and hedge funds own 88.73% of the company's stock.
Clearfield Stock Performance
Shares of Clearfield stock traded up $0.34 during mid-day trading on Thursday, hitting $33.07. 16,768 shares of the stock were exchanged, compared to its average volume of 139,809. Clearfield, Inc. has a 12 month low of $23.78 and a 12 month high of $46.76. The company has a 50-day simple moving average of $39.81 and a 200 day simple moving average of $34.93. The company has a market capitalization of $456.50 million, a P/E ratio of 3,306.50 and a beta of 1.63.
Clearfield (NASDAQ:CLFD - Get Free Report) last released its earnings results on Wednesday, August 6th. The communications equipment provider reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.06. Clearfield had a return on equity of 0.07% and a net margin of 0.11%.The company had revenue of $49.90 million for the quarter, compared to analysts' expectations of $47.58 million. Analysts predict that Clearfield, Inc. will post -0.29 EPS for the current year.
Wall Street Analyst Weigh In
A number of research firms have commented on CLFD. Northland Securities cut shares of Clearfield from an "outperform" rating to a "market perform" rating and set a $45.00 price target for the company. in a report on Thursday, August 7th. Northland Capmk cut Clearfield from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. Wall Street Zen downgraded Clearfield from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Roth Capital reiterated a "buy" rating on shares of Clearfield in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Clearfield currently has an average rating of "Moderate Buy" and an average target price of $47.50.
Check Out Our Latest Stock Analysis on CLFD
About Clearfield
(
Free Report)
Clearfield, Inc manufactures and sells various fiber connectivity products in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures; WaveSmart, an optical components integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform; and active cabinet products.
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