Cetera Trust Company N.A Buys Shares of 4,250 Clearfield, Inc. (NASDAQ:CLFD)

Cetera Trust Company N.A acquired a new stake in shares of Clearfield, Inc. (NASDAQ:CLFD) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,250 shares of the communications equipment provider’s stock, valued at approximately $124,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CLFD. CWM LLC grew its holdings in Clearfield by 28.1% during the fourth quarter. CWM LLC now owns 2,936 shares of the communications equipment provider’s stock worth $85,000 after acquiring an additional 644 shares during the period. Bank of New York Mellon Corp grew its holdings in Clearfield by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 102,381 shares of the communications equipment provider’s stock worth $2,934,000 after acquiring an additional 819 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Clearfield by 109.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,721 shares of the communications equipment provider’s stock worth $78,000 after acquiring an additional 1,423 shares during the period. Truvestments Capital LLC increased its stake in Clearfield by 44.2% in the 3rd quarter. Truvestments Capital LLC now owns 4,689 shares of the communications equipment provider’s stock worth $134,000 after purchasing an additional 1,438 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Clearfield in the 3rd quarter worth about $120,000. 88.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CLFD has been the topic of a number of analyst reports. Roth Mkm dropped their price target on Clearfield from $49.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, January 29th. Needham & Company LLC reissued a “buy” rating and issued a $36.00 price target on shares of Clearfield in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $42.20.

Clearfield Price Performance

NASDAQ:CLFD opened at $29.11 on Tuesday. Clearfield, Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $50.82. The stock’s 50-day moving average is $29.79 and its two-hundred day moving average is $27.90. The stock has a market cap of $428.21 million, a PE ratio of 35.50 and a beta of 1.32.

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

Insider Activity

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

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.