California Public Employees Retirement System maintained its position in Clearfield Inc. (NASDAQ:CLFD) during the second quarter, Holdings Channel reports. The fund owned 59,000 shares of the company’s stock at the end of the second quarter. California Public Employees Retirement System owned about 0.44% of Clearfield worth $1,056,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in Clearfield by 1.9% in the first quarter. State Street Corp now owns 136,520 shares of the company’s stock worth $2,194,000 after buying an additional 2,484 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Clearfield by 2.9% in the first quarter. Geode Capital Management LLC now owns 79,849 shares of the company’s stock worth $1,283,000 after buying an additional 2,271 shares during the last quarter. Royce & Associates LP raised its stake in shares of Clearfield by 3.7% in the first quarter. Royce & Associates LP now owns 153,000 shares of the company’s stock worth $2,459,000 after buying an additional 5,400 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Clearfield by 0.4% in the second quarter. California State Teachers Retirement System now owns 24,025 shares of the company’s stock worth $430,000 after buying an additional 106 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Clearfield by 14.6% in the first quarter. Royal Bank of Canada now owns 20,135 shares of the company’s stock worth $324,000 after buying an additional 2,570 shares during the last quarter. 25.91% of the stock is owned by hedge funds and other institutional investors.
Shares of Clearfield Inc. (NASDAQ:CLFD) traded down 0.61% during midday trading on Monday, reaching $18.00. 3,923 shares of the company were exchanged. Clearfield Inc. has a 52 week low of $11.59 and a 52 week high of $20.28. The firm has a market capitalization of $253.69 million, a P/E ratio of 38.30 and a beta of 0.64. The firm has a 50-day moving average of $18.40 and a 200 day moving average of $17.96.
Clearfield (NASDAQ:CLFD) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05. The company earned $21.60 million during the quarter, compared to analysts’ expectations of $17.85 million. Clearfield had a net margin of 9.25% and a return on equity of 11.83%. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. On average, equities research analysts expect that Clearfield Inc. will post $0.50 EPS for the current year.
Separately, Zacks Investment Research upgraded shares of Clearfield from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Wednesday, July 20th.
In other news, CEO Cheryl Beranek sold 10,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $19.21, for a total value of $192,100.00. Following the completion of the sale, the chief executive officer now directly owns 592,025 shares in the company, valued at $11,372,800.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John P. Hill sold 5,000 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $19.16, for a total transaction of $95,800.00. Following the completion of the sale, the chief operating officer now owns 244,593 shares of the company’s stock, valued at $4,686,401.88. The disclosure for this sale can be found here. Company insiders own 19.00% of the company’s stock.
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, including Clearview Classic and Clearview Blue, and Clearview xPAK; Connectivity and Optical Components, including Cable-to-Cable Deployment and Optical Components; FieldSmart, including FieldSmart Fiber Crossover Distribution System, FieldSmart Fiber Scalability Center, FieldSmart Fiber Delivery Point and FieldSmart Small Count Delivery; FieldShield; CraftSmart, and Cable Assemblies.
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