Stifel Financial Corp Has $1.22 Million Stake in Cleveland-Cliffs Inc. (NYSE:CLF)

Stifel Financial Corp boosted its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 33.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 130,107 shares of the mining company’s stock after purchasing an additional 32,576 shares during the quarter. Stifel Financial Corp’s holdings in Cleveland-Cliffs were worth $1,223,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Pinpoint Asset Management Ltd acquired a new position in Cleveland-Cliffs in the 4th quarter valued at $25,000. Estabrook Capital Management increased its position in shares of Cleveland-Cliffs by 207.7% in the fourth quarter. Estabrook Capital Management now owns 4,000 shares of the mining company’s stock worth $38,000 after purchasing an additional 2,700 shares during the period. Byrne Asset Management LLC raised its stake in Cleveland-Cliffs by 130.0% in the fourth quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company’s stock valued at $43,000 after purchasing an additional 2,600 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in Cleveland-Cliffs during the fourth quarter worth about $44,000. Finally, AllSquare Wealth Management LLC increased its holdings in Cleveland-Cliffs by 24.4% in the 4th quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company’s stock valued at $48,000 after buying an additional 1,000 shares during the period. Institutional investors own 67.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CLF. Glj Research reduced their target price on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group reduced their price objective on Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. B. Riley reissued a “buy” rating and issued a $17.00 target price (down previously from $20.00) on shares of Cleveland-Cliffs in a report on Wednesday, April 23rd. Finally, Morgan Stanley reduced their price target on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.49.

Insider Buying and Selling at Cleveland-Cliffs

In other Cleveland-Cliffs news, Director John T. Baldwin bought 4,000 shares of the stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $8.70 per share, for a total transaction of $34,800.00. Following the completion of the acquisition, the director now owns 133,227 shares in the company, valued at $1,159,074.90. This trade represents a 3.10 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Keith Koci purchased 9,500 shares of the business’s stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $10.81 per share, for a total transaction of $102,695.00. Following the completion of the acquisition, the executive vice president now directly owns 543,475 shares in the company, valued at approximately $5,874,964.75. This represents a 1.78 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 23,500 shares of company stock worth $243,095. Insiders own 1.71% of the company’s stock.

Cleveland-Cliffs Trading Down 15.8 %

CLF opened at $7.15 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. Cleveland-Cliffs Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $18.10. The company’s 50 day moving average price is $8.42 and its two-hundred day moving average price is $10.20. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of -7.37 and a beta of 2.03.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings data on Wednesday, May 7th. The mining company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.14). The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.71 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 EPS. As a group, research analysts predict that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

Cleveland-Cliffs Company 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.