Clearfield, Inc. (NASDAQ:CLFD) Stock Holdings Lessened by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in shares of Clearfield, Inc. (NASDAQ:CLFD) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,626 shares of the communications equipment provider’s stock after selling 1,059 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.69% of Clearfield worth $3,804,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC acquired a new stake in shares of Clearfield during the 2nd quarter valued at $835,000. Creative Planning boosted its position in Clearfield by 2.5% during the second quarter. Creative Planning now owns 98,088 shares of the communications equipment provider’s stock valued at $3,782,000 after purchasing an additional 2,426 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Clearfield by 83.2% during the second quarter. Dimensional Fund Advisors LP now owns 228,173 shares of the communications equipment provider’s stock valued at $8,798,000 after purchasing an additional 103,648 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in Clearfield by 12.2% in the third quarter. Segall Bryant & Hamill LLC now owns 249,087 shares of the communications equipment provider’s stock valued at $9,704,000 after purchasing an additional 27,178 shares in the last quarter. Finally, Select Equity Group L.P. acquired a new position in Clearfield in the 2nd quarter worth about $453,000. 88.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Clearfield news, Chairman Ronald G. Roth purchased 5,000 shares of the stock in a transaction dated Thursday, December 5th. The shares were bought at an average cost of $31.00 per share, with a total value of $155,000.00. Following the completion of the transaction, the chairman now owns 1,266,796 shares in the company, valued at $39,270,676. This trade represents a 0.40 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.00% of the company’s stock.

Clearfield Stock Performance

CLFD opened at $32.63 on Friday. The stock has a 50-day moving average of $33.76 and a 200-day moving average of $37.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.69 and a current ratio of 9.43. Clearfield, Inc. has a 52-week low of $24.78 and a 52-week high of $44.83. The company has a market cap of $466.28 million, a PE ratio of -38.39 and a beta of 1.28.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.13. Clearfield had a negative return on equity of 4.41% and a negative net margin of 7.47%. The company had revenue of $46.80 million for the quarter, compared to the consensus estimate of $41.95 million. During the same quarter last year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, equities research analysts forecast that Clearfield, Inc. will post -0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CLFD has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Clearfield in a research note on Friday, November 8th. StockNews.com cut shares of Clearfield from a “hold” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating and four have assigned 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 a consensus price target of $46.75.

Clearfield 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.