Clearfield, Inc. (NASDAQ:CLFD) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in shares of Clearfield, Inc. (NASDAQ:CLFD - Free Report) by 6.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 165,654 shares of the communications equipment provider's stock after selling 11,881 shares during the quarter. Federated Hermes Inc. owned approximately 1.17% of Clearfield worth $5,135,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CLFD. Royce & Associates LP boosted its position in Clearfield by 3.1% in the 4th quarter. Royce & Associates LP now owns 478,809 shares of the communications equipment provider's stock valued at $14,843,000 after buying an additional 14,464 shares during the period. Barclays PLC boosted its holdings 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 during the period. Drum Hill Capital LLC bought a new position in Clearfield in the fourth quarter worth approximately $1,539,000. JPMorgan Chase & Co. grew its stake in Clearfield by 7.7% in the fourth quarter. JPMorgan Chase & Co. now owns 44,251 shares of the communications equipment provider's stock worth $1,372,000 after purchasing an additional 3,174 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Clearfield by 2.7% during the 3rd quarter. Janus Henderson Group PLC now owns 30,062 shares of the communications equipment provider's stock worth $1,171,000 after purchasing an additional 794 shares during the period. 88.73% of the stock is currently owned by institutional investors.

Remove Ads

Clearfield Stock Up 1.1 %

Shares of CLFD traded up $0.30 during trading hours on Tuesday, hitting $26.81. The company had a trading volume of 80,891 shares, compared to its average volume of 129,242. The company has a current ratio of 10.57, a quick ratio of 7.41 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $378.88 million, a PE ratio of -42.56 and a beta of 1.51. Clearfield, Inc. has a one year low of $23.78 and a one year high of $44.83. The company's fifty day moving average price is $30.36 and its two-hundred day moving average price is $32.96.

Clearfield (NASDAQ:CLFD - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The communications equipment provider reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.13. Clearfield had a negative net margin of 5.41% and a negative return on equity of 3.31%. As a group, equities analysts forecast 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 recently issued reports on the company. Needham & Company LLC reissued a "buy" rating and set a $50.00 price target on shares of Clearfield in a research report on Wednesday, March 26th. StockNews.com raised shares of Clearfield from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $46.75.

Insider Transactions at Clearfield

In other news, COO John P. Hill sold 16,539 shares of Clearfield stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $33.26, for a total transaction of $550,087.14. Following the completion of the sale, the chief operating officer now directly owns 189,886 shares in the company, valued at approximately $6,315,608.36. The trade was a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 17.80% of the company's stock.

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.