Dimensional Fund Advisors LP Acquires 7,645 Shares of Clearfield, Inc. (CLFD)
Dimensional Fund Advisors LP raised its position in shares of Clearfield, Inc. (NASDAQ:CLFD) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 324,288 shares of the communications equipment provider’s stock after buying an additional 7,645 shares during the period. Dimensional Fund Advisors LP owned approximately 2.39% of Clearfield worth $5,335,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in CLFD. State Street Corp boosted its stake in Clearfield by 8.6% in the fourth quarter. State Street Corp now owns 154,909 shares of the communications equipment provider’s stock valued at $3,205,000 after buying an additional 12,300 shares during the period. American International Group Inc. boosted its stake in Clearfield by 7.0% in the first quarter. American International Group Inc. now owns 7,048 shares of the communications equipment provider’s stock valued at $116,000 after buying an additional 461 shares during the period. Vanguard Group Inc. boosted its stake in Clearfield by 12.7% in the first quarter. Vanguard Group Inc. now owns 447,606 shares of the communications equipment provider’s stock valued at $7,363,000 after buying an additional 50,391 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Clearfield by 8.4% in the first quarter. Geode Capital Management LLC now owns 91,098 shares of the communications equipment provider’s stock valued at $1,498,000 after buying an additional 7,038 shares during the period. Institutional investors own 27.39% of the company’s stock.
Clearfield, Inc. (NASDAQ:CLFD) traded up 3.39% during mid-day trading on Friday, hitting $12.20. 63,438 shares of the stock traded hands. The firm’s 50-day moving average is $12.36 and its 200-day moving average is $14.36. The company has a market cap of $169.99 million, a price-to-earnings ratio of 31.44 and a beta of 1.25. Clearfield, Inc. has a 12-month low of $11.00 and a 12-month high of $21.60.
Clearfield (NASDAQ:CLFD) last posted its quarterly earnings results on Thursday, July 27th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by $0.06. The company had revenue of $19.61 million during the quarter, compared to analysts’ expectations of $22.90 million. Clearfield had a return on equity of 8.12% and a net margin of 6.87%. Clearfield’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period last year, the company earned $0.16 earnings per share. Equities research analysts expect that Clearfield, Inc. will post $0.25 EPS for the current year.
CLFD has been the subject of several analyst reports. Zacks Investment Research cut shares of Clearfield from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Northland Securities set a $15.00 price target on shares of Clearfield and gave the company a “buy” rating in a research note on Saturday, July 29th.
In related news, Chairman Ronald G. Roth purchased 5,000 shares of Clearfield stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average cost of $11.45 per share, with a total value of $57,250.00. Following the completion of the transaction, the chairman now directly owns 1,224,484 shares of the company’s stock, valued at $14,020,341.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.30% of the stock is owned by corporate insiders.
Clearfield Company Profile
Clearfield, Inc manufactures, markets and sells fiber management and enclosure platform that consolidates, distributes and protects fiber as it moves from the inside plant to the outside plant and all the way to the home, business and cell site. The Company’s products include Clearview Cassette, which is the building block of its product platform; Connectivity and Optical Components; FieldSmart, which is a series of panels, cabinets, wall boxes and other enclosures that house the Clearview components; FieldShield, which is a fiber delivery method for broadband deployment; CraftSmart, which is a line of optical protection field enclosures, and Cable Assemblies.
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