Hunter Associates Investment Management LLC Sells 500 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Hunter Associates Investment Management LLC lessened its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,500 shares of the mining company’s stock after selling 500 shares during the period. Hunter Associates Investment Management LLC’s holdings in Cleveland-Cliffs were worth $214,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC acquired a new stake in shares of Cleveland-Cliffs in the 3rd quarter valued at $29,000. Anchor Investment Management LLC acquired a new stake in shares of Cleveland-Cliffs in the 4th quarter valued at $31,000. HighMark Wealth Management LLC acquired a new stake in shares of Cleveland-Cliffs in the 4th quarter valued at $35,000. Lazard Asset Management LLC boosted its holdings in shares of Cleveland-Cliffs by 218.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,088 shares of the mining company’s stock valued at $35,000 after purchasing an additional 746 shares in the last quarter. Finally, Tyler Stone Wealth Management acquired a new stake in shares of Cleveland-Cliffs in the 2nd quarter valued at $36,000. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Down 0.1 %

CLF traded down $0.02 during midday trading on Friday, hitting $20.81. 7,242,731 shares of the company were exchanged, compared to its average volume of 6,153,586. The firm has a market capitalization of $9.89 billion, a P/E ratio of 27.00, a P/E/G ratio of 0.72 and a beta of 2.03. Cleveland-Cliffs Inc. has a 1-year low of $13.61 and a 1-year high of $22.97. The firm’s 50 day moving average price is $20.95 and its 200-day moving average price is $18.88. 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 (NYSE:CLF) last posted its quarterly earnings data on Tuesday, January 30th. The mining company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). Cleveland-Cliffs had a return on equity of 6.79% and a net margin of 1.81%. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.16 billion. During the same period last year, the company posted ($0.30) EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, equities analysts forecast that Cleveland-Cliffs Inc. will post 1.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CLF. Citigroup downgraded Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 price objective on the stock. in a report on Wednesday, March 13th. TheStreet downgraded Cleveland-Cliffs from a “b-” rating to a “c” rating in a report on Tuesday, January 30th. Argus downgraded Cleveland-Cliffs from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Wolfe Research reissued an “underperform” rating and set a $18.00 price objective on shares of Cleveland-Cliffs in a report on Tuesday, April 9th. Finally, 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 report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.92.

Insider Transactions at Cleveland-Cliffs

In related news, EVP Terry G. Fedor sold 27,430 shares of the business’s stock in a transaction dated 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 approximately $10,793,917.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Terry G. Fedor sold 27,430 shares of the business’s stock in a transaction dated 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 approximately $10,793,917.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arlene M. Yocum bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $20.02 per share, with a total value of $40,040.00. Following the completion of the transaction, the director now directly owns 94,887 shares in the company, valued at $1,899,637.74. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 221,066 shares of company stock valued at $4,464,688. Corporate insiders own 1.76% of the company’s stock.

Cleveland-Cliffs Company 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.