Alaska Permanent Fund Corp Has $2.95 Million Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Alaska Permanent Fund Corp lessened its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 144,568 shares of the mining company’s stock after selling 1,132 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Cleveland-Cliffs were worth $2,952,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Korea Investment CORP raised its stake in Cleveland-Cliffs by 30.6% during the 3rd quarter. Korea Investment CORP now owns 514,890 shares of the mining company’s stock worth $8,048,000 after buying an additional 120,540 shares during the period. Barclays PLC raised its stake in Cleveland-Cliffs by 240.4% during the 3rd quarter. Barclays PLC now owns 1,988,689 shares of the mining company’s stock worth $31,083,000 after buying an additional 1,404,491 shares during the period. Aigen Investment Management LP acquired a new stake in Cleveland-Cliffs during the 3rd quarter worth $4,970,000. Handelsinvest Investeringsforvaltning acquired a new stake in shares of Cleveland-Cliffs in the 3rd quarter valued at about $3,908,000. Finally, Raymond James & Associates raised its stake in shares of Cleveland-Cliffs by 29.4% in the 3rd quarter. Raymond James & Associates now owns 554,022 shares of the mining company’s stock valued at $8,659,000 after purchasing an additional 125,884 shares during the period. Institutional investors and hedge funds own 67.68% of the company’s stock.

Insider Buying and Selling

In related news, Director Susan Miranda Green sold 6,500 shares of Cleveland-Cliffs stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $20.40, for a total transaction of $132,600.00. Following the completion of the transaction, the director now owns 90,286 shares in the company, valued at $1,841,834.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Susan Miranda Green sold 6,500 shares of Cleveland-Cliffs stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $20.40, for a total transaction of $132,600.00. Following the completion of the transaction, the director now owns 90,286 shares in the company, valued at $1,841,834.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ron A. Bloom acquired 25,000 shares of Cleveland-Cliffs stock in a transaction dated Thursday, February 1st. The shares were purchased at an average price of $20.24 per share, with a total value of $506,000.00. Following the acquisition, the director now owns 27,221 shares of the company’s stock, valued at $550,953.04. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 221,066 shares of company stock worth $4,464,688. Company insiders own 1.76% of the company’s stock.

Cleveland-Cliffs Stock Down 1.2 %

Shares of NYSE:CLF traded down $0.23 during midday trading on Wednesday, reaching $18.32. The company had a trading volume of 14,355,073 shares, compared to its average volume of 8,757,096. The company has a quick ratio of 0.62, a current ratio of 1.89 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average price is $20.97 and its 200 day moving average price is $19.00. The stock has a market cap of $8.71 billion, a PE ratio of 24.76, 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.

Cleveland-Cliffs (NYSE:CLF) last released its earnings results on Tuesday, April 23rd. The mining company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Cleveland-Cliffs had a net margin of 1.78% and a return on equity of 8.50%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same period in the prior year, the firm posted ($0.11) EPS. Cleveland-Cliffs’s revenue was down 1.8% compared to the same quarter last year. Research analysts forecast that Cleveland-Cliffs Inc. will post 1.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CLF. TheStreet downgraded Cleveland-Cliffs from a “b-” rating to a “c” rating in a research note on Tuesday, January 30th. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price target on shares of Cleveland-Cliffs in a research note on Tuesday, March 26th. StockNews.com raised Cleveland-Cliffs from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. JPMorgan Chase & Co. dropped their price target on Cleveland-Cliffs from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, BNP Paribas downgraded Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 price target on the stock. in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Cleveland-Cliffs presently has an average rating of “Hold” and an average price target of $20.75.

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.