Strs Ohio Sells 14,124 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Strs Ohio decreased its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 22.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,890 shares of the mining company’s stock after selling 14,124 shares during the quarter. Strs Ohio’s holdings in Cleveland-Cliffs were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in Cleveland-Cliffs by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,347,056 shares of the mining company’s stock worth $52,314,000 after acquiring an additional 40,838 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Cleveland-Cliffs by 9.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,735,603 shares of the mining company’s stock worth $42,757,000 after acquiring an additional 236,274 shares during the last quarter. AQR Capital Management LLC increased its stake in Cleveland-Cliffs by 154.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,586,472 shares of the mining company’s stock worth $40,181,000 after acquiring an additional 1,568,961 shares during the last quarter. Douglas Lane & Associates LLC increased its position in shares of Cleveland-Cliffs by 20.6% during the 4th quarter. Douglas Lane & Associates LLC now owns 2,103,314 shares of the mining company’s stock valued at $42,950,000 after purchasing an additional 359,801 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in Cleveland-Cliffs by 10.6% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,052,127 shares of the mining company’s stock valued at $32,075,000 after buying an additional 196,373 shares during the period. Institutional investors own 67.68% of the company’s stock.

Insider Transactions at Cleveland-Cliffs

In other news, Director Susan Miranda Green sold 6,500 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $20.40, for a total transaction of $132,600.00. Following the transaction, the director now owns 90,286 shares of the company’s stock, valued at approximately $1,841,834.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Susan Miranda Green sold 6,500 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $20.40, for a total transaction of $132,600.00. Following the transaction, the director now owns 90,286 shares of the company’s stock, valued at approximately $1,841,834.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Terry G. Fedor sold 27,430 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,066 shares of company stock valued at $4,464,688. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CLF. StockNews.com upgraded Cleveland-Cliffs from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. BNP Paribas lowered Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 price target on the stock. in a report on Wednesday, February 28th. Argus lowered Cleveland-Cliffs from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. TheStreet lowered Cleveland-Cliffs from a “b-” rating to a “c” rating in a report on Tuesday, January 30th. Finally, Wolfe Research restated an “underperform” rating and set a $18.00 price target on shares of Cleveland-Cliffs in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $19.92.

Cleveland-Cliffs Stock Performance

Shares of Cleveland-Cliffs stock opened at $18.53 on Wednesday. The stock’s fifty day moving average is $20.98 and its two-hundred day moving average is $18.98. The company has a market capitalization of $8.81 billion, a PE ratio of 24.07, a price-to-earnings-growth 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. Cleveland-Cliffs Inc. has a 52 week low of $13.61 and a 52 week high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Monday, April 22nd. The mining company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.34 billion. Cleveland-Cliffs had a net margin of 1.81% and a return on equity of 6.79%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company earned ($0.11) EPS. As a group, analysts expect that Cleveland-Cliffs Inc. will post 1.66 earnings per share for the current year.

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.