Cerity Partners LLC Invests $3.35 Million in Cleveland-Cliffs Inc. (NYSE:CLF)

Cerity Partners LLC bought a new stake in Cleveland-Cliffs Inc. (NYSE:CLF) in the 4th quarter, Holdings Channel reports. The institutional investor bought 163,904 shares of the mining company’s stock, valued at approximately $3,347,000.

Several other institutional investors have also recently added to or reduced their stakes in CLF. Custom Index Systems LLC acquired a new position in shares of Cleveland-Cliffs in the fourth quarter valued at approximately $306,000. Harbour Trust & Investment Management Co purchased a new position in shares of Cleveland-Cliffs during the fourth quarter valued at approximately $204,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Cleveland-Cliffs by 886.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 357,342 shares of the mining company’s stock valued at $7,297,000 after buying an additional 321,124 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Cleveland-Cliffs by 10.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 13,790 shares of the mining company’s stock valued at $282,000 after buying an additional 1,300 shares during the period. Finally, 180 Wealth Advisors LLC lifted its stake in shares of Cleveland-Cliffs by 1.3% during the fourth quarter. 180 Wealth Advisors LLC now owns 57,546 shares of the mining company’s stock valued at $1,138,000 after buying an additional 747 shares during the period. Institutional investors and hedge funds own 67.68% of the company’s stock.

Analyst Upgrades and Downgrades

CLF has been the topic of several recent analyst reports. Morgan Stanley reissued an “equal weight” rating and set a $20.00 price objective on shares of Cleveland-Cliffs in a research note on Tuesday, March 26th. StockNews.com downgraded shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. TheStreet downgraded shares of Cleveland-Cliffs from a “b-” rating to a “c” rating in a research note on Tuesday, January 30th. Citigroup downgraded shares of Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 price target on the stock. in a research note on Wednesday, March 13th. Finally, Argus downgraded shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.92.

Insider Buying and Selling at Cleveland-Cliffs

In other Cleveland-Cliffs news, EVP Terry G. Fedor sold 27,430 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $20.19, for a total transaction of $553,811.70. Following the transaction, the executive vice president now directly owns 534,617 shares in the company, valued at approximately $10,793,917.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Susan Miranda Green sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $20.40, for a total value of $132,600.00. Following the transaction, the director now directly owns 90,286 shares in the company, valued at approximately $1,841,834.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Terry G. Fedor sold 27,430 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total transaction of $553,811.70. Following the completion of the transaction, the executive vice president now owns 534,617 shares in the company, valued at $10,793,917.23. The disclosure for this sale can be found here. Insiders have sold 221,066 shares of company stock worth $4,464,688 in the last ninety days. 1.76% of the stock is owned by insiders.

Cleveland-Cliffs Trading Up 0.8 %

NYSE CLF opened at $21.21 on Thursday. Cleveland-Cliffs Inc. has a 12 month low of $13.61 and a 12 month high of $22.97. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.89 and a quick ratio of 0.62. The company has a market capitalization of $10.08 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 0.75 and a beta of 2.03. The company’s fifty day moving average price is $20.90 and its two-hundred day moving average price is $18.83.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Tuesday, January 30th. The mining company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). Cleveland-Cliffs had a net margin of 1.81% and a return on equity of 6.79%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.16 billion. During the same period in the prior year, the firm posted ($0.30) EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. As a group, research analysts predict that Cleveland-Cliffs Inc. will post 1.63 earnings per share for the current fiscal year.

About Cleveland-Cliffs

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.