Drum Hill Capital LLC Invests $1.54 Million in Clearfield, Inc. (NASDAQ:CLFD)

Drum Hill Capital LLC purchased a new stake in shares of Clearfield, Inc. (NASDAQ:CLFD) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 49,633 shares of the communications equipment provider’s stock, valued at approximately $1,539,000. Clearfield comprises about 1.9% of Drum Hill Capital LLC’s investment portfolio, making the stock its 20th largest holding. Drum Hill Capital LLC owned about 0.35% of Clearfield as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Clearfield by 164.2% during the third quarter. Barclays PLC now owns 87,971 shares of the communications equipment provider’s stock valued at $3,428,000 after buying an additional 54,670 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in Clearfield by 12.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 249,087 shares of the communications equipment provider’s stock worth $9,704,000 after buying an additional 27,178 shares during the period. Quest Partners LLC bought a new stake in Clearfield during the 3rd quarter valued at about $578,000. Easterly Investment Partners LLC boosted its position in Clearfield by 31.3% in the 3rd quarter. Easterly Investment Partners LLC now owns 11,632 shares of the communications equipment provider’s stock valued at $453,000 after buying an additional 2,774 shares during the period. Finally, Truvestments Capital LLC bought a new position in Clearfield in the 3rd quarter worth about $80,000. 88.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Ronald G. Roth bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was bought at an average price of $31.00 per share, with a total value of $155,000.00. Following the completion of the transaction, the chairman now directly owns 1,266,796 shares of the company’s stock, valued at approximately $39,270,676. The trade was a 0.40 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John P. Hill sold 16,539 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $33.26, for a total transaction of $550,087.14. Following the completion of the sale, the chief operating officer now owns 189,886 shares of the company’s stock, valued at approximately $6,315,608.36. This trade represents a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CLFD. StockNews.com upgraded Clearfield from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Clearfield in a report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.75.

Clearfield Price Performance

NASDAQ CLFD opened at $31.84 on Friday. The company has a market cap of $449.90 million, a PE ratio of -50.54 and a beta of 1.28. The firm’s 50 day moving average price is $34.42 and its 200-day moving average price is $35.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.41 and a current ratio of 10.57. Clearfield, Inc. has a 52-week low of $27.06 and a 52-week high of $44.83.

Clearfield (NASDAQ:CLFD) last announced its earnings results on Thursday, February 6th. The communications equipment provider reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.13. Clearfield had a negative return on equity of 3.31% and a negative net margin of 5.41%. Sell-side analysts forecast that Clearfield, Inc. will post -0.29 EPS for the current fiscal year.

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.