Mitsubishi UFJ Trust & Banking Corp Invests $1.41 Million in Cleveland-Cliffs Inc. $CLF

Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 115,586 shares of the mining company’s stock, valued at approximately $1,410,000.

Other institutional investors also recently bought and sold shares of the company. Focus Partners Wealth bought a new stake in shares of Cleveland-Cliffs during the 1st quarter valued at about $339,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Cleveland-Cliffs by 1.8% in the second quarter. Public Employees Retirement System of Ohio now owns 151,066 shares of the mining company’s stock worth $1,148,000 after buying an additional 2,701 shares during the last quarter. PFG Investments LLC grew its position in Cleveland-Cliffs by 16.7% during the second quarter. PFG Investments LLC now owns 21,855 shares of the mining company’s stock valued at $166,000 after buying an additional 3,120 shares during the period. Clear Creek Financial Management LLC increased its holdings in Cleveland-Cliffs by 5.1% during the second quarter. Clear Creek Financial Management LLC now owns 26,480 shares of the mining company’s stock valued at $201,000 after buying an additional 1,280 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in Cleveland-Cliffs by 2.5% during the second quarter. Vontobel Holding Ltd. now owns 91,158 shares of the mining company’s stock valued at $693,000 after buying an additional 2,216 shares during the last quarter. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Down 3.1%

Shares of Cleveland-Cliffs stock opened at $13.76 on Friday. The company has a market capitalization of $6.81 billion, a P/E ratio of -4.05 and a beta of 1.91. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.61 and a current ratio of 2.04. The company has a fifty day moving average of $13.31 and a 200 day moving average of $12.07. Cleveland-Cliffs Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $16.70.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cleveland-Cliffs in a research note on Tuesday. The Goldman Sachs Group lifted their target price on Cleveland-Cliffs from $14.50 to $16.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Wells Fargo & Company raised Cleveland-Cliffs from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $11.00 to $12.00 in a report on Friday, November 14th. Glj Research raised their price objective on Cleveland-Cliffs from $5.75 to $9.52 and gave the stock a “sell” rating in a research note on Tuesday, January 13th. Finally, Citigroup lowered their price objective on Cleveland-Cliffs from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Cleveland-Cliffs currently has a consensus rating of “Hold” and a consensus target price of $13.80.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.