Cleveland-Cliffs Inc. (NYSE:CLF) Shares Sold by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC reduced its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,500 shares of the mining company’s stock after selling 500 shares during the period. Hunter Associates Investment Management LLC’s holdings in Cleveland-Cliffs were worth $214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its stake in Cleveland-Cliffs by 3.8% during the 1st quarter. BlackRock Inc. now owns 56,453,183 shares of the mining company’s stock worth $1,034,787,000 after buying an additional 2,041,111 shares during the last quarter. Vanguard Group Inc. grew its stake in Cleveland-Cliffs by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 45,757,539 shares of the mining company’s stock worth $616,355,000 after buying an additional 387,794 shares during the last quarter. State Street Corp grew its stake in Cleveland-Cliffs by 18.6% during the 2nd quarter. State Street Corp now owns 21,000,065 shares of the mining company’s stock worth $322,771,000 after buying an additional 3,295,448 shares during the last quarter. Geode Capital Management LLC grew its stake in Cleveland-Cliffs by 2.1% during the 1st quarter. Geode Capital Management LLC now owns 7,476,201 shares of the mining company’s stock worth $136,853,000 after buying an additional 150,571 shares during the last quarter. Finally, Morgan Stanley grew its stake in Cleveland-Cliffs by 1.5% during the 4th quarter. Morgan Stanley now owns 6,855,860 shares of the mining company’s stock worth $110,448,000 after buying an additional 98,117 shares during the last quarter. 67.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on CLF. TheStreet cut Cleveland-Cliffs from a “b-” rating to a “c” rating in a research note on Tuesday, January 30th. Citigroup cut Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 price target for the company. in a research note on Wednesday, March 13th. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price target on shares of Cleveland-Cliffs in a research note on Tuesday, March 26th. BNP Paribas cut Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 price target for the company. in a research note on Wednesday, February 28th. Finally, StockNews.com raised Cleveland-Cliffs from a “hold” rating to a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cleveland-Cliffs presently has an average rating of “Hold” and an average price target of $19.92.

Cleveland-Cliffs Trading Down 0.1 %

Shares of NYSE CLF traded down $0.02 during mid-day trading on Friday, hitting $20.81. 7,242,731 shares of the company traded hands, compared to its average volume of 6,153,586. Cleveland-Cliffs Inc. has a 1 year low of $13.61 and a 1 year high of $22.97. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 0.72 and a beta of 2.03. The company has a quick ratio of 0.62, a current ratio of 1.89 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average of $20.95 and a two-hundred day moving average of $18.88.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Tuesday, January 30th. The mining company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). Cleveland-Cliffs had a return on equity of 6.79% and a net margin of 1.81%. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.16 billion. During the same period in the prior year, the business posted ($0.30) earnings per share. Cleveland-Cliffs’s revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Cleveland-Cliffs Inc. will post 1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cleveland-Cliffs news, Director Arlene M. Yocum acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average cost of $20.02 per share, for a total transaction of $40,040.00. Following the transaction, the director now owns 94,887 shares of the company’s stock, valued at approximately $1,899,637.74. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Susan Miranda Green sold 6,500 shares of Cleveland-Cliffs stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $20.40, for a total transaction of $132,600.00. Following the completion of the sale, the director now directly owns 90,286 shares in the company, valued at approximately $1,841,834.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Arlene M. Yocum purchased 2,000 shares of Cleveland-Cliffs stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average price of $20.02 per share, with a total value of $40,040.00. Following the completion of the acquisition, the director now owns 94,887 shares in the company, valued at $1,899,637.74. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 221,066 shares of company stock worth $4,464,688. 1.76% of the stock is currently owned by company insiders.

Cleveland-Cliffs Profile

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.