Clearfield Inc. (CLFD) Shares Bought by California State Teachers Retirement System
California State Teachers Retirement System boosted its position in shares of Clearfield Inc. (NASDAQ:CLFD) by 0.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 24,025 shares of the company’s stock after buying an additional 106 shares during the period. California State Teachers Retirement System owned about 0.18% of Clearfield worth $430,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the stock. Royce & Associates LP boosted 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 in the last quarter. Royal Bank of Canada boosted 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 in the last quarter. State Street Corp boosted its stake in shares of 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. Finally, Geode Capital Management LLC boosted 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 in the last quarter. Institutional investors and hedge funds own 25.92% of the company’s stock.
Shares of Clearfield Inc. (NASDAQ:CLFD) traded down 0.22% during midday trading on Wednesday, reaching $18.53. The company had a trading volume of 11,755 shares. Clearfield Inc. has a 12-month low of $11.59 and a 12-month high of $20.28. The company has a 50 day moving average of $18.36 and a 200 day moving average of $17.94. The firm has a market capitalization of $261.16 million, a price-to-earnings ratio of 39.43 and a beta of 0.64.
Clearfield (NASDAQ:CLFD) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. Clearfield had a return on equity of 11.83% and a net margin of 9.25%. The firm earned $21.60 million during the quarter, compared to the consensus estimate of $17.85 million. During the same period last year, the company earned $0.14 earnings per share. The company’s revenue was up 18.7% on a year-over-year basis. Analysts anticipate that Clearfield Inc. will post $0.50 EPS for the current year.
Separately, Zacks Investment Research upgraded Clearfield from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a research note on Friday, July 29th.
In related news, CEO Cheryl Beranek sold 10,000 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $19.21, for a total transaction of $192,100.00. Following the sale, the chief executive officer now directly owns 592,025 shares of the company’s stock, valued at $11,372,800.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO John P. Hill sold 5,000 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $19.16, for a total value of $95,800.00. Following the sale, the chief operating officer now directly owns 244,593 shares in the company, valued at $4,686,401.88. The disclosure for this sale can be found here. Insiders own 19.00% of the company’s stock.
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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