Terril Brothers Inc. Sells 3,625 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Terril Brothers Inc. lessened its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 888,400 shares of the mining company’s stock after selling 3,625 shares during the quarter. Cleveland-Cliffs makes up about 6.4% of Terril Brothers Inc.’s portfolio, making the stock its 6th biggest position. Terril Brothers Inc. owned about 0.18% of Cleveland-Cliffs worth $18,141,000 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. AQR Capital Management LLC raised its position in Cleveland-Cliffs by 154.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,586,472 shares of the mining company’s stock valued at $40,181,000 after buying an additional 1,568,961 shares during the last quarter. Barclays PLC grew its stake in Cleveland-Cliffs by 240.4% in the third quarter. Barclays PLC now owns 1,988,689 shares of the mining company’s stock valued at $31,083,000 after purchasing an additional 1,404,491 shares in the last quarter. Ninety One UK Ltd bought a new position in Cleveland-Cliffs in the fourth quarter valued at approximately $27,928,000. International Assets Investment Management LLC grew its stake in Cleveland-Cliffs by 1,627.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,431,769 shares of the mining company’s stock valued at $29,237,000 after purchasing an additional 1,348,893 shares in the last quarter. Finally, First Dallas Securities Inc. grew its stake in Cleveland-Cliffs by 442.6% in the third quarter. First Dallas Securities Inc. now owns 746,945 shares of the mining company’s stock valued at $11,675,000 after purchasing an additional 609,295 shares in the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Performance

CLF traded down $0.35 during trading on Friday, hitting $17.88. The stock had a trading volume of 9,278,276 shares, compared to its average volume of 8,426,657. The company has a 50 day moving average price of $20.87 and a 200-day moving average price of $19.00. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 0.62 and a beta of 2.03. Cleveland-Cliffs Inc. has a one year low of $13.61 and a one year high of $22.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.90 and a quick ratio of 0.62.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings results on Monday, April 22nd. The mining company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.34 billion. Cleveland-Cliffs had a net margin of 1.78% and a return on equity of 8.69%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.11) earnings per share. As a group, research analysts predict that Cleveland-Cliffs Inc. will post 1.56 EPS for the current year.

Cleveland-Cliffs declared that its board has approved a share repurchase program on Monday, April 22nd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the mining company to buy up to 17.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at Cleveland-Cliffs

In related news, EVP Terry G. Fedor sold 27,430 shares of the business’s stock in a transaction 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 in the company, valued at approximately $10,793,917.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Ron A. Bloom acquired 25,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was purchased at an average cost of $20.24 per share, with a total value of $506,000.00. Following the acquisition, the director now directly owns 27,221 shares of the company’s stock, valued at $550,953.04. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Terry G. Fedor sold 27,430 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 534,617 shares of the company’s stock, valued at approximately $10,793,917.23. The disclosure for this sale can be found here. Insiders sold 221,066 shares of company stock worth $4,464,688 in the last ninety days. 1.76% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CLF shares. Morgan Stanley restated 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 downgraded Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research note on Friday. BNP Paribas downgraded Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 price target for the company. in a research note on Wednesday, February 28th. JPMorgan Chase & Co. reduced their target price on Cleveland-Cliffs from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Citigroup downgraded Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 target price for the company. in a research note on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.75.

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.