Price T Rowe Associates Inc. MD Sells 31,373 Shares of Clearfield, Inc. (NASDAQ:CLFD)

Price T Rowe Associates Inc. MD lessened its holdings in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 78.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,762 shares of the communications equipment provider's stock after selling 31,373 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.06% of Clearfield worth $272,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC raised its stake in shares of Clearfield by 164.2% in the third 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 in the last quarter. ACK Asset Management LLC increased its stake in shares of Clearfield by 3.6% in the fourth quarter. ACK Asset Management LLC now owns 720,000 shares of the communications equipment provider's stock valued at $22,320,000 after buying an additional 25,000 shares in the last quarter. Raymond James Financial Inc. bought a new position in Clearfield in the fourth quarter valued at about $721,000. KLP Kapitalforvaltning AS bought a new position in Clearfield during the fourth quarter worth about $74,000. Finally, SG Americas Securities LLC boosted its holdings in Clearfield by 45.5% during the fourth quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider's stock worth $164,000 after buying an additional 1,656 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company's stock.

Clearfield Stock Up 0.5%

Shares of NASDAQ:CLFD traded up $0.18 during trading on Monday, hitting $39.03. 171,657 shares of the company were exchanged, compared to its average volume of 123,325. The stock has a market cap of $539.82 million, a price-to-earnings ratio of -61.95 and a beta of 1.61. Clearfield, Inc. has a fifty-two week low of $23.78 and a fifty-two week high of $44.83. The firm has a fifty day moving average price of $29.77 and a two-hundred day moving average price of $31.91. The company has a current ratio of 10.57, a quick ratio of 7.41 and a debt-to-equity ratio of 0.01.

Clearfield (NASDAQ:CLFD - Get Free Report) last issued its earnings results on Thursday, May 8th. The communications equipment provider reported $0.09 EPS for the quarter, topping the consensus estimate 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 company had revenue of $47.17 million during the quarter, compared to the consensus estimate of $38.53 million. As a group, research analysts anticipate that Clearfield, Inc. will post -0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Needham & Company LLC restated a "buy" rating and set a $50.00 target price on shares of Clearfield in a report on Wednesday, March 26th. StockNews.com raised Clearfield from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Clearfield presently has an average rating of "Moderate Buy" and an average target price of $46.75.

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.