Nisa Investment Advisors LLC Purchases 1,300 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Nisa Investment Advisors LLC lifted its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 10.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,790 shares of the mining company’s stock after buying an additional 1,300 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cleveland-Cliffs were worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CLF. Exchange Traded Concepts LLC purchased a new stake in shares of Cleveland-Cliffs during the third quarter valued at approximately $29,000. Anchor Investment Management LLC bought a new position in Cleveland-Cliffs during the fourth quarter valued at approximately $31,000. HighMark Wealth Management LLC bought a new position in Cleveland-Cliffs in the fourth quarter worth approximately $35,000. Lazard Asset Management LLC raised its position in Cleveland-Cliffs by 218.1% in the first quarter. Lazard Asset Management LLC now owns 1,088 shares of the mining company’s stock worth $35,000 after acquiring an additional 746 shares during the period. Finally, Tyler Stone Wealth Management bought a new position in Cleveland-Cliffs in the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Performance

CLF opened at $20.83 on Friday. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 0.74 and a beta of 2.03. The company has a fifty day moving average of $20.93 and a 200 day moving average of $18.85. Cleveland-Cliffs Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $22.97. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.62 and a current ratio of 1.89.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings data on Tuesday, January 30th. The mining company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). Cleveland-Cliffs had a net margin of 1.81% and a return on equity of 6.79%. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.16 billion. During the same period last year, the company posted ($0.30) EPS. The business’s revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts forecast that Cleveland-Cliffs Inc. will post 1.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Lourenco Goncalves sold 187,136 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $20.19, for a total value of $3,778,275.84. Following the completion of the sale, the chief executive officer now owns 2,699,089 shares in the company, valued at approximately $54,494,606.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Susan Miranda Green sold 6,500 shares of Cleveland-Cliffs stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $20.40, for a total transaction of $132,600.00. Following the completion of the sale, the director now owns 90,286 shares in the company, valued at approximately $1,841,834.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lourenco Goncalves sold 187,136 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $20.19, for a total transaction of $3,778,275.84. Following the completion of the sale, the chief executive officer now owns 2,699,089 shares of the company’s stock, valued at approximately $54,494,606.91. The disclosure for this sale can be found here. Insiders sold 221,066 shares of company stock valued at $4,464,688 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Argus downgraded shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. TheStreet downgraded shares of Cleveland-Cliffs from a “b-” rating to a “c” rating in a research report on Tuesday, January 30th. Citigroup cut shares of Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 price objective for the company. in a research note on Wednesday, March 13th. Wolfe Research reissued an “underperform” rating and issued a $18.00 price objective on shares of Cleveland-Cliffs in a research note on Tuesday, April 9th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price objective on shares of Cleveland-Cliffs in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Cleveland-Cliffs presently has a consensus rating of “Hold” and a consensus price target of $19.92.

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.