Clearfield, Inc. (NASDAQ:CLFD) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. significantly reduced its stake in Clearfield, Inc. by 93.4%, selling 154,741 shares during Q1, leaving it with approximately 10,913 shares valued at $324,000.
• Several institutional investors have increased their stakes, including Tower Research Capital, which raised its position by 340.6% during the fourth quarter.
• Clearfield reported an earnings per share (EPS) of $0.11, surpassing expectations, with analysts currently giving the stock a consensus rating of "Hold."

Federated Hermes Inc. trimmed its position in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 93.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,913 shares of the communications equipment provider's stock after selling 154,741 shares during the period. Federated Hermes Inc. owned approximately 0.08% of Clearfield worth $324,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Royce & Associates LP increased its holdings in shares of Clearfield by 1.3% during the 1st 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 last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Clearfield by 17.8% during the 4th 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. Marshall Wace LLP increased its holdings in shares of Clearfield by 13.1% during the 4th quarter. Marshall Wace LLP now owns 174,767 shares of the communications equipment provider's stock worth $5,418,000 after buying an additional 20,269 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Clearfield by 9.1% during the 4th quarter. Northern Trust Corp now owns 125,677 shares of the communications equipment provider's stock worth $3,896,000 after buying an additional 10,476 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Clearfield by 2.4% during the 4th quarter. Barclays PLC now owns 90,117 shares of the communications equipment provider's stock worth $2,793,000 after buying an additional 2,146 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Clearfield Price Performance

NASDAQ CLFD traded down $1.98 during trading hours on Thursday, hitting $31.85. The company had a trading volume of 65,431 shares, compared to its average volume of 139,877. Clearfield, Inc. has a fifty-two week low of $23.78 and a fifty-two week high of $46.76. The company has a market capitalization of $439.85 million, a price-to-earnings ratio of 3,197.50 and a beta of 1.63. The firm's 50 day moving average is $41.20 and its 200 day moving average is $35.23.

Clearfield (NASDAQ:CLFD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. Clearfield had a return on equity of 0.07% and a net margin of 0.11%. The firm had revenue of $49.90 million during the quarter, compared to the consensus estimate of $47.58 million. On average, equities analysts anticipate that Clearfield, Inc. will post -0.29 EPS for the current year.

Analysts Set New Price Targets

CLFD has been the subject of a number of research analyst reports. Northland Securities downgraded Clearfield from an "outperform" rating to a "market perform" rating and set a $45.00 price objective for the company. in a report on Thursday, August 7th. Northland Capmk downgraded Clearfield from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Roth Capital reiterated a "buy" rating on shares of Clearfield in a report on Thursday, August 7th. Finally, Wall Street Zen downgraded Clearfield from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $47.50.

Clearfield Company Profile

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.