J.W. Cole Advisors Inc. Reduces Position in Cleveland-Cliffs Inc. (NYSE:CLF)

J.W. Cole Advisors Inc. cut its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,730 shares of the mining company’s stock after selling 885 shares during the period. J.W. Cole Advisors Inc.’s holdings in Cleveland-Cliffs were worth $485,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CLF. AQR Capital Management LLC increased its position in shares of 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 purchasing an additional 1,568,961 shares during the last quarter. Barclays PLC increased its position in shares of Cleveland-Cliffs by 240.4% in the 3rd 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 during the last quarter. Ninety One UK Ltd purchased a new stake in shares of Cleveland-Cliffs in the 4th quarter valued at approximately $27,928,000. International Assets Investment Management LLC increased its position in shares of Cleveland-Cliffs by 1,627.6% in the 4th 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 during the last quarter. Finally, First Dallas Securities Inc. grew its position in shares of Cleveland-Cliffs by 442.6% in the 3rd quarter. First Dallas Securities Inc. now owns 746,945 shares of the mining company’s stock valued at $11,675,000 after buying an additional 609,295 shares during the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.

Cleveland-Cliffs Trading Down 11.1 %

Shares of Cleveland-Cliffs stock opened at $18.53 on Wednesday. Cleveland-Cliffs Inc. has a 1 year low of $13.61 and a 1 year 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. The company has a market capitalization of $8.81 billion, a P/E ratio of 24.07, a PEG ratio of 0.72 and a beta of 2.03. The company’s fifty day moving average is $20.98 and its two-hundred day moving average is $18.98.

Cleveland-Cliffs (NYSE:CLF) last released its earnings results on Monday, April 22nd. The mining company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). Cleveland-Cliffs had a return on equity of 6.79% and a net margin of 1.81%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same quarter last year, the business posted ($0.11) EPS. The firm’s revenue was down 1.8% on a year-over-year basis. Analysts forecast that Cleveland-Cliffs Inc. will post 1.66 earnings per share for the current year.

Insider Transactions at Cleveland-Cliffs

In other news, Director Susan Miranda Green sold 6,500 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $20.40, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Susan Miranda Green sold 6,500 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $20.40, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ron A. Bloom bought 25,000 shares of Cleveland-Cliffs stock in a transaction dated Thursday, February 1st. The stock was purchased at an average price of $20.24 per share, with a total value of $506,000.00. Following the purchase, the director now directly owns 27,221 shares in the company, valued at approximately $550,953.04. The disclosure for this purchase can be found here. In the last quarter, insiders sold 221,066 shares of company stock worth $4,464,688. Company insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

CLF has been the topic of a number of recent analyst reports. TheStreet downgraded shares of Cleveland-Cliffs from a “b-” rating to a “c” rating in a research report on Tuesday, January 30th. StockNews.com raised shares of Cleveland-Cliffs from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. BNP Paribas downgraded shares of Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 target price on the stock. in a research report on Wednesday, February 28th. Citigroup downgraded shares of Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 target price on the stock. in a research report on Wednesday, March 13th. Finally, Argus downgraded shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.92.

Cleveland-Cliffs 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.