Clearfield, Inc. (CLFD) Stake Increased by Vanguard Group Inc.
Vanguard Group Inc. lifted its position in Clearfield, Inc. (NASDAQ:CLFD) by 12.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 447,606 shares of the communications equipment provider’s stock after acquiring an additional 50,391 shares during the quarter. Vanguard Group Inc. owned approximately 3.29% of Clearfield worth $7,363,000 at the end of the most recent reporting period.
Separately, American International Group Inc. grew its stake in shares of Clearfield by 7.0% in the 1st quarter. American International Group Inc. now owns 7,048 shares of the communications equipment provider’s stock worth $116,000 after acquiring an additional 461 shares in the last quarter. Institutional investors own 27.37% of the company’s stock.
Several research firms have recently issued reports on CLFD. Zacks Investment Research lowered shares of Clearfield from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Northland Securities set a $15.00 target price on shares of Clearfield and gave the stock a “buy” rating in a research note on Saturday, July 29th.
Clearfield, Inc. (CLFD) traded up 0.40% during mid-day trading on Wednesday, hitting $12.65. 19,930 shares of the stock traded hands. The firm’s 50-day moving average is $12.10 and its 200 day moving average is $14.13. The firm has a market cap of $176.27 million, a P/E ratio of 32.60 and a beta of 1.25. Clearfield, Inc. has a 52-week low of $11.00 and a 52-week high of $21.60.
Clearfield (NASDAQ:CLFD) last released its quarterly earnings data on Thursday, July 27th. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.12 by $0.06. Clearfield had a return on equity of 8.12% and a net margin of 6.87%. The business had revenue of $19.61 million during the quarter, compared to the consensus estimate of $22.90 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. Clearfield’s quarterly revenue was down 9.2% compared to the same quarter last year. Equities analysts predict that Clearfield, Inc. will post $0.25 EPS for the current fiscal year.
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In other Clearfield news, Chairman Ronald G. Roth acquired 5,000 shares of Clearfield stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average cost of $11.45 per share, for a total transaction of $57,250.00. Following the acquisition, the chairman now owns 1,224,484 shares of the company’s stock, valued at $14,020,341.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 18.30% of the stock is currently owned by company insiders.
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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