Cleveland-Cliffs Inc. (NYSE:CLF) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in Cleveland-Cliffs Inc. (NYSE:CLFFree Report) by 11.6% in the third quarter, Holdings Channel.com reports. The fund owned 330,302 shares of the mining company’s stock after selling 43,170 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Cleveland-Cliffs were worth $5,163,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Stonebridge Capital Advisors LLC lifted its stake in Cleveland-Cliffs by 20.0% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 3,600 shares of the mining company’s stock valued at $58,000 after acquiring an additional 600 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its position in Cleveland-Cliffs by 2.3% during the third quarter. Dorsey & Whitney Trust CO LLC now owns 27,337 shares of the mining company’s stock worth $427,000 after acquiring an additional 609 shares during the period. Cibc World Market Inc. increased its position in 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 acquiring an additional 623 shares during the period. Commerce Bank increased its position in Cleveland-Cliffs by 2.6% during the second quarter. Commerce Bank now owns 26,323 shares of the mining company’s stock worth $441,000 after acquiring an additional 656 shares during the period. Finally, Stratos Wealth Partners LTD. increased its position in Cleveland-Cliffs by 0.7% during the third quarter. Stratos Wealth Partners LTD. now owns 103,397 shares of the mining company’s stock worth $1,616,000 after acquiring an additional 674 shares during the period. 60.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CLF has been the topic of a number of research reports. StockNews.com lowered shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. TheStreet lowered shares of Cleveland-Cliffs from a “b-” rating to a “c” rating in a research report on Tuesday, January 30th. Morgan Stanley boosted their target price on shares of Cleveland-Cliffs from $19.00 to $21.50 and gave the stock an “overweight” rating in a research report on Tuesday, October 31st. Finally, Argus lowered shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.63.

View Our Latest Report on Cleveland-Cliffs

Cleveland-Cliffs Trading Up 2.8 %

Shares of Cleveland-Cliffs stock opened at $19.87 on Monday. Cleveland-Cliffs Inc. has a 52-week low of $13.61 and a 52-week high of $22.83. 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’s fifty day moving average price is $19.15 and its two-hundred day moving average price is $16.92. The firm has a market capitalization of $9.90 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 0.57 and a beta of 2.04.

Cleveland-Cliffs (NYSE:CLFGet Free Report) last issued its earnings results on Tuesday, January 30th. The mining company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). Cleveland-Cliffs had a net margin of 1.81% and a return on equity of 6.79%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter in the previous year, the company earned ($0.30) EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, analysts expect that Cleveland-Cliffs Inc. will post 2.22 EPS for the current year.

Insider Activity

In other news, Director Ron A. Bloom bought 25,000 shares of Cleveland-Cliffs stock in a transaction dated Thursday, February 1st. The shares were bought at an average price of $20.24 per share, for a total transaction of $506,000.00. Following the purchase, the director now owns 27,221 shares of the company’s stock, valued at $550,953.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.57% of the stock is owned by corporate insiders.

Cleveland-Cliffs Company Profile

(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.

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

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