Smith Graham & Co. Investment Advisors LP Buys New Shares in Clearfield, Inc. (NASDAQ:CLFD)

Smith Graham & Co. Investment Advisors LP bought a new stake in Clearfield, Inc. (NASDAQ:CLFD) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 177,037 shares of the communications equipment provider’s stock, valued at approximately $5,148,000. Smith Graham & Co. Investment Advisors LP owned 1.18% of Clearfield at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB purchased a new stake in Clearfield during the 3rd quarter worth about $1,247,000. Barclays PLC lifted its holdings in Clearfield by 69.6% during the 3rd quarter. Barclays PLC now owns 17,612 shares of the communications equipment provider’s stock worth $505,000 after buying an additional 7,226 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Clearfield by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,160,764 shares of the communications equipment provider’s stock worth $33,267,000 after buying an additional 10,370 shares during the last quarter. Truvestments Capital LLC lifted its holdings in Clearfield by 44.2% during the 3rd quarter. Truvestments Capital LLC now owns 4,689 shares of the communications equipment provider’s stock worth $134,000 after buying an additional 1,438 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in Clearfield during the 4th quarter worth about $384,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Clearfield Stock Down 1.9 %

Shares of CLFD stock opened at $30.21 on Friday. The stock has a market capitalization of $444.39 million, a PE ratio of 36.84 and a beta of 1.32. Clearfield, Inc. has a 52-week low of $22.91 and a 52-week high of $50.82. The stock’s 50-day moving average price is $29.85 and its 200 day moving average price is $27.90.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings results on Thursday, February 1st. The communications equipment provider reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.05. The firm had revenue of $34.20 million for the quarter, compared to analysts’ expectations of $29.88 million. Clearfield had a return on equity of 4.22% and a net margin of 6.00%. The firm’s revenue for the quarter was down 60.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 EPS. Analysts expect that Clearfield, Inc. will post -1.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Clearfield news, Chairman Ronald G. Roth bought 2,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were bought at an average price of $29.62 per share, for a total transaction of $59,240.00. Following the transaction, the chairman now owns 1,259,796 shares of the company’s stock, valued at approximately $37,315,157.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CLFD. Needham & Company LLC decreased their price target on Clearfield from $40.00 to $36.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Roth Mkm cut their target price on Clearfield from $49.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.20.

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.