Northern Trust Corp Increases Position in Clearfield, Inc. (NASDAQ:CLFD)

Northern Trust Corp lifted its stake in Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 9.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 125,677 shares of the communications equipment provider's stock after purchasing an additional 10,476 shares during the quarter. Northern Trust Corp owned about 0.89% of Clearfield worth $3,896,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Barclays PLC grew its stake in Clearfield by 164.2% during the 3rd quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider's stock valued at $3,428,000 after purchasing an additional 54,670 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in Clearfield in the fourth quarter valued at approximately $1,594,000. Drum Hill Capital LLC purchased a new stake in Clearfield in the fourth quarter valued at approximately $1,539,000. Dimensional Fund Advisors LP increased its holdings in Clearfield by 17.8% in 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 period. Finally, Renaissance Technologies LLC purchased a new position in Clearfield during the 4th quarter worth approximately $1,311,000. 88.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Clearfield from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Needham & Company LLC restated a "buy" rating and issued a $50.00 target price on shares of Clearfield in a research report on Wednesday, March 26th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.75.

Clearfield Trading Down 2.0%

NASDAQ:CLFD traded down $0.78 on Wednesday, reaching $37.72. The company's stock had a trading volume of 107,329 shares, compared to its average volume of 123,129. Clearfield, Inc. has a 12-month low of $23.78 and a 12-month high of $44.83. The stock has a 50 day moving average price of $31.10 and a 200 day moving average price of $32.11. The firm has a market cap of $521.71 million, a price-to-earnings ratio of -59.87 and a beta of 1.61. The company has a quick ratio of 7.41, a current ratio of 10.57 and a debt-to-equity ratio of 0.01.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.19) by $0.28. Clearfield had a negative return on equity of 3.31% and a negative net margin of 5.41%. The firm had revenue of $47.17 million during the quarter, compared to the consensus estimate of $38.53 million. On average, equities analysts anticipate that Clearfield, Inc. will post -0.29 EPS for the current fiscal year.

Clearfield 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.