Moors & Cabot Inc. Has $271,000 Stake in Cleveland-Cliffs Inc. (NYSE:CLF)

Moors & Cabot Inc. lowered its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLFFree Report) by 14.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 28,878 shares of the mining company’s stock after selling 4,940 shares during the period. Moors & Cabot Inc.’s holdings in Cleveland-Cliffs were worth $271,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its stake in Cleveland-Cliffs by 13.7% during the 3rd quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock valued at $330,665,000 after purchasing an additional 3,110,651 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Cleveland-Cliffs by 20.1% during the 4th quarter. Bank of New York Mellon Corp now owns 7,382,769 shares of the mining company’s stock worth $69,398,000 after buying an additional 1,236,247 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Cleveland-Cliffs by 11.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,176,194 shares of the mining company’s stock worth $39,256,000 after buying an additional 425,041 shares in the last quarter. Hodges Capital Management Inc. lifted its position in shares of Cleveland-Cliffs by 13.4% during the 4th quarter. Hodges Capital Management Inc. now owns 3,316,786 shares of the mining company’s stock worth $31,178,000 after buying an additional 391,109 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Cleveland-Cliffs by 232.4% during the 3rd quarter. Barclays PLC now owns 3,113,337 shares of the mining company’s stock worth $39,757,000 after buying an additional 2,176,837 shares in the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Up 7.1 %

Shares of CLF stock opened at $10.42 on Monday. The company’s fifty day simple moving average is $10.40 and its two-hundred day simple moving average is $11.40. 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 1 year low of $8.50 and a 1 year high of $22.97. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of -10.74 and a beta of 1.94.

Cleveland-Cliffs (NYSE:CLFGet Free Report) last issued its earnings results on Monday, February 24th. The mining company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.03). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.46 billion. As a group, analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

Insider Buying and Selling at Cleveland-Cliffs

In other Cleveland-Cliffs news, Director John T. Baldwin acquired 4,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $8.70 per share, for a total transaction of $34,800.00. Following the completion of the transaction, the director now owns 133,227 shares of the company’s stock, valued at approximately $1,159,074.90. This represents a 3.10 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Keith Koci acquired 9,500 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $10.81 per share, for a total transaction of $102,695.00. Following the transaction, the executive vice president now directly owns 543,475 shares of the company’s stock, valued at $5,874,964.75. This represents a 1.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 23,500 shares of company stock valued at $243,095 in the last 90 days. 1.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on CLF shares. Glj Research dropped their target price on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley dropped their target price on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. B. Riley reissued a “buy” rating on shares of Cleveland-Cliffs in a research report on Tuesday, February 4th. The Goldman Sachs Group lowered their price target on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, Citigroup lowered their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.43.

View Our Latest Research Report on Cleveland-Cliffs

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.

Further Reading

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Institutional Ownership by Quarter for Cleveland-Cliffs (NYSE:CLF)

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