Clearfield Inc (NASDAQ:CLFD) Stake Raised by Rhumbline Advisers

Rhumbline Advisers lifted its holdings in Clearfield Inc (NASDAQ:CLFD) by 47.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,332 shares of the communications equipment provider’s stock after acquiring an additional 4,902 shares during the period. Rhumbline Advisers owned approximately 0.11% of Clearfield worth $152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC grew its stake in shares of Clearfield by 1.5% in the 3rd quarter. Renaissance Technologies LLC now owns 508,999 shares of the communications equipment provider’s stock valued at $6,846,000 after buying an additional 7,700 shares during the period. Vanguard Group Inc boosted its stake in Clearfield by 8.6% during the 3rd quarter. Vanguard Group Inc now owns 487,386 shares of the communications equipment provider’s stock valued at $6,556,000 after purchasing an additional 38,600 shares during the last quarter. Vanguard Group Inc. boosted its stake in Clearfield by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 487,386 shares of the communications equipment provider’s stock valued at $6,556,000 after purchasing an additional 38,600 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in Clearfield during the 3rd quarter valued at about $176,000. 28.80% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ CLFD traded up $0.17 during midday trading on Friday, reaching $15.34. The company’s stock had a trading volume of 10,880 shares, compared to its average volume of 23,594. Clearfield Inc has a 12-month low of $8.41 and a 12-month high of $16.75. The company has a market capitalization of $209.58 million, a PE ratio of 47.94 and a beta of 1.68.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings results on Thursday, January 31st. The communications equipment provider reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $20.09 million for the quarter, compared to analysts’ expectations of $19.60 million. Clearfield had a net margin of 5.37% and a return on equity of 7.88%. Research analysts expect that Clearfield Inc will post 0.32 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on CLFD shares. Zacks Investment Research upgraded Clearfield from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Friday, February 1st. TheStreet upgraded Clearfield from a “c+” rating to a “b” rating in a research note on Monday, March 4th. Finally, ValuEngine upgraded Clearfield from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th.

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About Clearfield

Clearfield, Inc manufactures, markets, and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises, and original equipment manufacturers markets in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.

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Institutional Ownership by Quarter for Clearfield (NASDAQ:CLFD)

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