Thompson Siegel & Walmsley LLC Sells 422,996 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Thompson Siegel & Walmsley LLC cut its stake in Cleveland-Cliffs Inc. (NYSE:CLF – Get Rating) by 20.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,641,982 shares of the mining company’s stock after selling 422,996 shares during the period. Thompson Siegel & Walmsley LLC owned 0.32% of Cleveland-Cliffs worth $26,452,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CLF. Amalgamated Bank lifted its stake in Cleveland-Cliffs by 22.2% in the fourth quarter. Amalgamated Bank now owns 451,736 shares of the mining company’s stock valued at $7,277,000 after buying an additional 82,066 shares during the period. AXQ Capital LP acquired a new position in Cleveland-Cliffs in the fourth quarter valued at approximately $530,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Cleveland-Cliffs in the fourth quarter valued at approximately $2,301,000. Waratah Capital Advisors Ltd. acquired a new position in Cleveland-Cliffs in the fourth quarter valued at approximately $2,572,000. Finally, HRT Financial LP lifted its stake in Cleveland-Cliffs by 66.1% in the fourth quarter. HRT Financial LP now owns 149,569 shares of the mining company’s stock valued at $2,409,000 after buying an additional 59,524 shares during the period. 65.25% of the stock is currently owned by institutional investors.

Cleveland-Cliffs Stock Performance

Shares of CLF stock traded up $0.07 on Friday, hitting $14.36. 4,812,017 shares of the stock were exchanged, compared to its average volume of 10,150,307. The company has a current ratio of 2.15, a quick ratio of 0.73 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $7.40 billion, a PE ratio of 15.88 and a beta of 2.22. Cleveland-Cliffs Inc. has a one year low of $11.82 and a one year high of $24.66. The firm’s 50 day moving average is $16.32 and its two-hundred day moving average is $17.52.

Cleveland-Cliffs (NYSE:CLF – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The mining company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.09. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.21 billion. Cleveland-Cliffs had a return on equity of 8.32% and a net margin of 2.14%. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.71 EPS. Sell-side analysts expect that Cleveland-Cliffs Inc. will post 2.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cleveland-Cliffs news, CFO Celso L. Goncalves, Jr. purchased 6,500 shares of the stock in a transaction on Monday, May 1st. The shares were purchased at an average price of $15.18 per share, with a total value of $98,670.00. Following the acquisition, the chief financial officer now directly owns 237,727 shares in the company, valued at approximately $3,608,695.86. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cleveland-Cliffs news, Director Ralph S. Michael III purchased 10,000 shares of the stock in a transaction on Tuesday, May 2nd. The shares were purchased at an average price of $14.96 per share, with a total value of $149,600.00. Following the acquisition, the director now directly owns 171,840 shares in the company, valued at approximately $2,570,726.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Celso L. Goncalves, Jr. purchased 6,500 shares of the stock in a transaction on Monday, May 1st. The stock was acquired at an average cost of $15.18 per share, for a total transaction of $98,670.00. Following the acquisition, the chief financial officer now owns 237,727 shares in the company, valued at $3,608,695.86. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 125,300 shares of company stock valued at $1,875,531. Corporate insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Citigroup upped their target price on Cleveland-Cliffs from $16.00 to $22.00 and gave the stock a “neutral” rating in a research report on Monday, February 13th. StockNews.com raised Cleveland-Cliffs from a “sell” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. assumed coverage on Cleveland-Cliffs in a research report on Tuesday. They set a “neutral” rating and a $18.00 target price on the stock. Wolfe Research raised Cleveland-Cliffs from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 20th. Finally, B. Riley decreased their price target on Cleveland-Cliffs from $27.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, February 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.53.

Cleveland-Cliffs Company Profile

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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.