2 weeks Ago By ABMN Staff
Russell Investments Group Ltd. lifted its stake in Cleveland-Cliffs Inc. ( NYSE:CLF – Free Report ) by 12.
9% during the 4th quarter, HoldingsChannel reports. The fund owned 315,969 shares of the mining company’s stock after buying an additional 36,174 shares during the period. Russell Investments Group Ltd.
’s holdings in Cleveland-Cliffs were worth $2,970,000 as of its most recent filing with the Securities and Exchange Commission. Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Cleveland-Cliffs by 20.
1% in the fourth quarter. Bank of New York Mellon Corp now owns 7,382,769 shares of the mining company’s stock valued at $69,398,000 after acquiring an additional 1,236,247 shares during the last quarter. Franklin Resources Inc.
increased its holdings in Cleveland-Cliffs by 105.6% during the 3rd quarter. Franklin Resources Inc.
now owns 262,771 shares of the mining company’s stock valued at $3,429,000 after purchasing an additional 134,939 shares in the last quarter. Stonegate Investment Group LLC acquired a new stake in Cleveland-Cliffs during the 4th quarter valued at $18,999,000. Vanguard Group Inc.
raised its position in Cleveland-Cliffs by 5.5% in the 4th quarter. Vanguard Group Inc.
now owns 48,751,789 shares of the mining company’s stock valued at $458,267,000 after purchasing an additional 2,556,332 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Cleveland-Cliffs in the fourth quarter worth $4,432,000.
67.68% of the stock is currently owned by institutional investors and hedge funds. Analyst Ratings Changes Several research firms have weighed in on CLF.
Glj Research lowered their price objective on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating for the company in a research report on Thursday, February 27th.
B. Riley reissued a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. Morgan Stanley dropped their price objective on shares of Cleveland-Cliffs from $13.
00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. The Goldman Sachs Group decreased their price objective on Cleveland-Cliffs from $17.
00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Finally, Citigroup dropped their target price on Cleveland-Cliffs from $12.
50 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock.
According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.24. Insider Activity at Cleveland-Cliffs In other news, Director Jane M.
Cronin acquired 10,000 shares of Cleveland-Cliffs stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $10.56 per share, with a total value of $105,600.
00. Following the transaction, the director now owns 24,522 shares of the company’s stock, valued at approximately $258,952.32.
This trade represents a 68.86 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website .
Also, EVP Keith Koci purchased 9,500 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $10.81 per share, with a total value of $102,695.
00. Following the completion of the transaction, the executive vice president now directly owns 543,475 shares of the company’s stock, valued at $5,874,964.75.
The trade was a 1.78 % increase in their position. The disclosure for this purchase can be found here .
Insiders bought 23,500 shares of company stock valued at $243,095 in the last three months. Corporate insiders own 1.76% of the company’s stock.
Cleveland-Cliffs Trading Up 1.8 % Shares of NYSE CLF opened at $7.31 on Friday.
The stock has a market cap of $3.61 billion, a P/E ratio of -7.54 and a beta of 1.
93. The firm has a 50 day moving average price of $9.37 and a two-hundred day moving average price of $10.
72. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.
55 and a current ratio of 1.85. Cleveland-Cliffs Inc.
has a 52-week low of $6.17 and a 52-week high of $21.32.
Cleveland-Cliffs ( NYSE:CLF – Get Free Report ) last posted its quarterly earnings data on Monday, February 24th. The mining company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.
65) by ($0.03). Cleveland-Cliffs had a negative return on equity of 0.
59% and a negative net margin of 2.31%. The firm had revenue of $4.
33 billion for the quarter, compared to analyst estimates of $4.46 billion. As a group, equities analysts forecast that Cleveland-Cliffs Inc.
will post -0.79 EPS for the current year. About Cleveland-Cliffs ( Free Report ) Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America.
The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017. Recommended Stories Want to see what other hedge funds are holding CLF? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Cleveland-Cliffs Inc. ( NYSE:CLF – Free Report ). Receive News & Ratings for Cleveland-Cliffs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cleveland-Cliffs and related companies with MarketBeat.
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