Yousif Capital Management LLC decreased its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 263,627 shares of the mining company's stock after selling 6,980 shares during the quarter. Yousif Capital Management LLC owned 0.05% of Cleveland-Cliffs worth $4,247,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cibc World Market Inc. lifted its holdings in shares of Cleveland-Cliffs by 1.1% during the first quarter. Cibc World Market Inc. now owns 58,149 shares of the mining company's stock worth $1,873,000 after purchasing an additional 623 shares during the period. Brick & Kyle Associates lifted its holdings in Cleveland-Cliffs by 0.4% in the second quarter. Brick & Kyle Associates now owns 182,130 shares of the mining company's stock valued at $2,787,000 after acquiring an additional 745 shares during the period. Lazard Asset Management LLC lifted its holdings in Cleveland-Cliffs by 218.1% in the first quarter. Lazard Asset Management LLC now owns 1,088 shares of the mining company's stock valued at $35,000 after acquiring an additional 746 shares during the period. Signaturefd LLC lifted its holdings in Cleveland-Cliffs by 16.4% in the third quarter. Signaturefd LLC now owns 5,867 shares of the mining company's stock valued at $79,000 after acquiring an additional 827 shares during the period. Finally, Zullo Investment Group Inc. lifted its holdings in Cleveland-Cliffs by 25.0% in the third quarter. Zullo Investment Group Inc. now owns 4,500 shares of the mining company's stock valued at $61,000 after acquiring an additional 900 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.
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Insider Buying and Selling at Cleveland-Cliffs
In other Cleveland-Cliffs news, Director Susan Miranda Green sold 8,700 shares of the company's stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $22.66, for a total value of $197,142.00. Following the completion of the sale, the director now directly owns 87,353 shares in the company, valued at approximately $1,979,418.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cleveland-Cliffs news, Director Susan Miranda Green sold 8,700 shares of the company's stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $22.66, for a total value of $197,142.00. Following the completion of the sale, the director now directly owns 87,353 shares in the company, valued at approximately $1,979,418.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Douglas C. Taylor sold 42,000 shares of the company's stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $21.25, for a total value of $892,500.00. Following the completion of the sale, the director now owns 118,469 shares of the company's stock, valued at $2,517,466.25. The disclosure for this sale can be found here. 1.43% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on CLF. StockNews.com began coverage on Cleveland-Cliffs in a report on Thursday. They issued a "hold" rating for the company. Citigroup boosted their price target on Cleveland-Cliffs from $16.00 to $22.00 and gave the company a "neutral" rating in a report on Monday, February 13th. BNP Paribas raised Cleveland-Cliffs from an "underperform" rating to a "neutral" rating and set a $21.00 price target for the company in a report on Wednesday, January 25th. The Goldman Sachs Group boosted their price objective on Cleveland-Cliffs from $18.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, January 18th. Finally, B. Riley cut their price objective on Cleveland-Cliffs from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Wednesday, February 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $22.11.
Cleveland-Cliffs Stock Down 1.4 %
Shares of CLF opened at $17.36 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.65 and a current ratio of 2.09. Cleveland-Cliffs Inc. has a one year low of $11.82 and a one year high of $34.04. The stock has a market capitalization of $8.94 billion, a price-to-earnings ratio of 6.92 and a beta of 2.25. The stock has a 50 day moving average price of $20.39 and a 200 day moving average price of $17.10.
Cleveland-Cliffs (NYSE:CLF – Get Rating) last issued its quarterly earnings results on Monday, February 13th. The mining company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.03. The firm had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $5.19 billion. Cleveland-Cliffs had a return on equity of 22.07% and a net margin of 5.81%. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 earnings per share. Equities research analysts forecast that Cleveland-Cliffs Inc. will post 1.77 earnings per share for the current fiscal year.
About Cleveland-Cliffs
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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.