Dimensional Fund Advisors LP Raises Stock Holdings in Clearfield, Inc. (NASDAQ:CLFD)

Dimensional Fund Advisors LP grew its position in shares of Clearfield, Inc. (NASDAQ:CLFD) by 83.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 228,173 shares of the communications equipment provider’s stock after buying an additional 103,648 shares during the period. Dimensional Fund Advisors LP owned about 1.60% of Clearfield worth $8,798,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Clearfield by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,012,432 shares of the communications equipment provider’s stock worth $31,223,000 after purchasing an additional 14,307 shares during the period. Harber Asset Management LLC acquired a new stake in shares of Clearfield during the 4th quarter worth approximately $4,310,000. Nordea Investment Management AB raised its position in shares of Clearfield by 172.9% during the 1st quarter. Nordea Investment Management AB now owns 113,904 shares of the communications equipment provider’s stock worth $3,531,000 after purchasing an additional 72,164 shares during the period. Bank of New York Mellon Corp raised its position in shares of Clearfield by 12.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 61,205 shares of the communications equipment provider’s stock worth $2,360,000 after purchasing an additional 6,539 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Clearfield by 2.3% during the 1st quarter. Janus Henderson Group PLC now owns 33,941 shares of the communications equipment provider’s stock worth $1,047,000 after purchasing an additional 777 shares during the period. Institutional investors own 88.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Northland Securities increased their price target on Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. StockNews.com upgraded Clearfield to a “sell” rating in a research report on Monday, August 5th. Roth Mkm lowered their target price on Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Clearfield in a research report on Tuesday, September 24th. Finally, Lake Street Capital upgraded Clearfield from a “hold” rating to a “buy” rating and raised their target price for the company from $31.00 to $47.00 in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Insider Activity at Clearfield

In other news, Director Walter Louis Jones, Jr. acquired 1,324 shares of Clearfield stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $37.77 per share, with a total value of $50,007.48. Following the completion of the transaction, the director now owns 6,061 shares in the company, valued at approximately $228,923.97. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 16.00% of the company’s stock.

Clearfield Stock Down 1.0 %

Shares of CLFD stock opened at $36.88 on Tuesday. The stock has a market cap of $524.91 million, a PE ratio of -147.52 and a beta of 1.34. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.73 and a current ratio of 8.38. The business’s fifty day moving average is $38.52 and its 200-day moving average is $36.51. Clearfield, Inc. has a 1 year low of $22.91 and a 1 year high of $44.83.

Clearfield (NASDAQ:CLFD) last issued its earnings results on Thursday, August 1st. The communications equipment provider reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.30. The business had revenue of $48.79 million during the quarter, compared to analysts’ expectations of $42.13 million. Clearfield had a negative return on equity of 3.06% and a negative net margin of 5.26%. Clearfield’s revenue was down 20.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 earnings per share. Equities analysts expect that Clearfield, Inc. will post -0.98 earnings per share for the current fiscal year.

About Clearfield

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.