Sei Investments Co. Buys Shares of 20,000 Clearfield, Inc. (CLFD)
Sei Investments Co. bought a new position in Clearfield, Inc. (NASDAQ:CLFD) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 20,000 shares of the communications equipment provider’s stock, valued at approximately $272,000. Sei Investments Co. owned 0.14% of Clearfield as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in CLFD. Vanguard Group Inc. increased its stake in Clearfield by 12.7% in the first quarter. Vanguard Group Inc. now owns 447,606 shares of the communications equipment provider’s stock worth $7,363,000 after purchasing an additional 50,391 shares during the period. Geode Capital Management LLC increased its stake in Clearfield by 8.4% in the first quarter. Geode Capital Management LLC now owns 91,098 shares of the communications equipment provider’s stock worth $1,498,000 after purchasing an additional 7,038 shares during the period. Dimensional Fund Advisors LP increased its stake in Clearfield by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 324,288 shares of the communications equipment provider’s stock worth $5,335,000 after purchasing an additional 7,645 shares during the period. Bank of New York Mellon Corp grew its position in shares of Clearfield by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 50,902 shares of the communications equipment provider’s stock worth $672,000 after buying an additional 982 shares in the last quarter. Finally, WCM Investment Management CA bought a new position in shares of Clearfield during the 2nd quarter worth $703,000. Institutional investors and hedge funds own 29.13% of the company’s stock.
Clearfield, Inc. (NASDAQ:CLFD) opened at $13.25 on Thursday. Clearfield, Inc. has a 12-month low of $11.00 and a 12-month high of $21.60. The stock has a market capitalization of $181.62, a price-to-earnings ratio of 46.96 and a beta of 1.26.
Clearfield (NASDAQ:CLFD) last posted its quarterly earnings results on Thursday, November 9th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Clearfield had a return on equity of 5.95% and a net margin of 5.20%. The business had revenue of $18.42 million for the quarter, compared to the consensus estimate of $19.50 million. equities analysts anticipate that Clearfield, Inc. will post 0.29 earnings per share for the current year.
CLFD has been the topic of a number of recent research reports. Lake Street Capital increased their price target on Clearfield from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. Zacks Investment Research raised Clearfield from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, Northland Securities set a $15.00 price target on Clearfield and gave the stock a “buy” rating in a research report on Tuesday, October 17th.
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, which is the building block of its product platform; Connectivity and Optical Components; FieldSmart, which is a series of panels, cabinets, wall boxes and other enclosures that house the Clearview components; FieldShield, which is a fiber delivery method for broadband deployment; CraftSmart, which is a line of optical protection field enclosures, and Cable Assemblies.
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