Cleveland-Cliffs Inc. (NYSE:CLF) Holdings Decreased by Heritage Investors Management Corp

Heritage Investors Management Corp decreased its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 6.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 27,379 shares of the mining company’s stock after selling 1,931 shares during the quarter. Heritage Investors Management Corp’s holdings in Cleveland-Cliffs were worth $350,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CLF. Twelve Points Wealth Management LLC lifted its position in shares of Cleveland-Cliffs by 58.5% in the third quarter. Twelve Points Wealth Management LLC now owns 133,717 shares of the mining company’s stock worth $1,708,000 after buying an additional 49,359 shares during the last quarter. Hodges Capital Management Inc. increased its stake in Cleveland-Cliffs by 5.0% during the second quarter. Hodges Capital Management Inc. now owns 2,199,634 shares of the mining company’s stock valued at $33,852,000 after acquiring an additional 104,197 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Cleveland-Cliffs by 2.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 40,118 shares of the mining company’s stock valued at $879,000 after purchasing an additional 984 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Cleveland-Cliffs by 82.2% in the 1st quarter. Russell Investments Group Ltd. now owns 392,842 shares of the mining company’s stock valued at $8,932,000 after purchasing an additional 177,198 shares during the period. Finally, Natixis bought a new stake in shares of Cleveland-Cliffs in the 1st quarter valued at approximately $100,000. Institutional investors and hedge funds own 67.68% of the company’s stock.

Wall Street Analysts Forecast Growth

CLF has been the topic of several analyst reports. Seaport Res Ptn upgraded Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Morgan Stanley decreased their price target on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Finally, Citigroup decreased their price target on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.56.

Cleveland-Cliffs Trading Down 11.5 %

Shares of NYSE:CLF opened at $11.61 on Wednesday. Cleveland-Cliffs Inc. has a 52-week low of $10.21 and a 52-week high of $22.97. The company has a market capitalization of $5.43 billion, a P/E ratio of -11.96 and a beta of 1.97. The company has a 50-day simple moving average of $12.62 and a 200 day simple moving average of $14.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.60 and a current ratio of 1.87.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings data on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.72 billion. Cleveland-Cliffs had a return on equity of 4.94% and a net margin of 0.21%. The company’s revenue was down 18.5% on a year-over-year basis. During the same quarter last year, the business earned $0.54 earnings per share. Sell-side analysts forecast that Cleveland-Cliffs Inc. will post -0.37 earnings per share for the current year.

Cleveland-Cliffs Company 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.