State Street Corp Sells 3,425 Shares of Clearfield, Inc. (NASDAQ:CLFD)

State Street Corp cut its holdings in Clearfield, Inc. (NASDAQ:CLFD) by 1.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 294,940 shares of the communications equipment provider’s stock after selling 3,425 shares during the quarter. State Street Corp owned 2.07% of Clearfield worth $11,491,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CLFD. Quantbot Technologies LP purchased a new stake in Clearfield in the 3rd quarter worth about $53,000. Redwood Wealth Management Group LLC bought a new stake in shares of Clearfield in the 2nd quarter valued at about $75,000. Truvestments Capital LLC purchased a new stake in shares of Clearfield during the 3rd quarter valued at $80,000. Canada Pension Plan Investment Board acquired a new position in shares of Clearfield during the second quarter valued at about $85,000. Finally, SG Americas Securities LLC increased its position in shares of Clearfield by 8.3% in the 3rd quarter. SG Americas Securities LLC now owns 3,641 shares of the communications equipment provider’s stock valued at $142,000 after acquiring an additional 279 shares during the period. Institutional investors own 88.73% of the company’s stock.

Clearfield Stock Up 3.0 %

CLFD stock opened at $31.33 on Thursday. Clearfield, Inc. has a one year low of $24.78 and a one year high of $44.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.69 and a current ratio of 9.43. The firm’s fifty day moving average is $32.99 and its 200 day moving average is $36.60. The firm has a market cap of $447.67 million, a PE ratio of -36.86 and a beta of 1.28.

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

Analyst Upgrades and Downgrades

CLFD has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Clearfield in a report on Friday, November 8th. StockNews.com downgraded Clearfield from a “hold” rating to a “sell” rating in a research note on Saturday, December 14th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.75.

Insider Buying and Selling at Clearfield

In other Clearfield news, Chairman Ronald G. Roth bought 5,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were purchased at an average price of $31.00 per share, for a total transaction of $155,000.00. Following the transaction, the chairman now directly owns 1,266,796 shares of the company’s stock, valued at approximately $39,270,676. This represents a 0.40 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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.