Twin Capital Management Inc. Purchases 20,484 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Twin Capital Management Inc. increased its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 57.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,369 shares of the mining company’s stock after acquiring an additional 20,484 shares during the period. Twin Capital Management Inc.’s holdings in Cleveland-Cliffs were worth $1,151,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CLF. Natixis Advisors L.P. grew its position in shares of Cleveland-Cliffs by 39.8% in the 1st quarter. Natixis Advisors L.P. now owns 43,986 shares of the mining company’s stock valued at $1,417,000 after buying an additional 12,531 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Cleveland-Cliffs in the 1st quarter valued at about $486,000. Great West Life Assurance Co. Can grew its position in shares of Cleveland-Cliffs by 12.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 259,092 shares of the mining company’s stock valued at $8,577,000 after buying an additional 29,178 shares during the last quarter. Cibc World Market Inc. grew its position in shares of Cleveland-Cliffs by 1.1% in the 1st quarter. Cibc World Market Inc. now owns 58,149 shares of the mining company’s stock valued at $1,873,000 after buying an additional 623 shares during the last quarter. Finally, Blair William & Co. IL grew its position in shares of Cleveland-Cliffs by 14.5% in the 1st quarter. Blair William & Co. IL now owns 167,800 shares of the mining company’s stock valued at $5,405,000 after buying an additional 21,233 shares during the last quarter. Institutional investors own 67.68% of the company’s stock.

Analyst Upgrades and Downgrades

CLF has been the topic of a number of analyst reports. Citigroup lowered Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 price target on the stock. in a research report on Wednesday, March 13th. TheStreet lowered Cleveland-Cliffs from a “b-” rating to a “c” rating in a research report on Tuesday, January 30th. BNP Paribas downgraded Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 price objective on the stock. in a research note on Wednesday, February 28th. StockNews.com raised Cleveland-Cliffs from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price objective on shares of Cleveland-Cliffs in a research note on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.92.

Insider Buying and Selling

In related news, Director Susan Miranda Green sold 6,500 shares of the company’s stock in a transaction that occurred 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 directly owns 90,286 shares of the company’s stock, valued at approximately $1,841,834.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Terry G. Fedor sold 27,430 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 534,617 shares of the company’s stock, valued at $10,793,917.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan Miranda Green sold 6,500 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $20.40, for a total value of $132,600.00. Following the completion of the sale, the director now directly owns 90,286 shares of the company’s stock, valued at $1,841,834.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 221,066 shares of company stock valued at $4,464,688. 1.76% of the stock is owned by company insiders.

Cleveland-Cliffs Stock Down 1.8 %

CLF stock opened at $20.83 on Friday. The stock’s 50 day simple moving average is $20.93 and its 200 day simple moving average is $18.85. Cleveland-Cliffs Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $22.97. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.62 and a current ratio of 1.89. The company has a market cap of $9.90 billion, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 0.75 and a beta of 2.03.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings results on Tuesday, January 30th. The mining company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). Cleveland-Cliffs had a return on equity of 6.79% and a net margin of 1.81%. The business 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 business earned ($0.30) EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, research analysts expect that Cleveland-Cliffs Inc. will post 1.62 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.