Murphy Pohlad Asset Management LLC Has $1.26 Million Stock Holdings in Cleveland-Cliffs Inc. $CLF

Murphy Pohlad Asset Management LLC lessened its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 166,090 shares of the mining company’s stock after selling 5,350 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Cleveland-Cliffs were worth $1,262,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CLF. Atwood & Palmer Inc. acquired a new stake in shares of Cleveland-Cliffs in the 2nd quarter valued at $27,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Cleveland-Cliffs in the 2nd quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Cleveland-Cliffs in the 1st quarter valued at $36,000. Hantz Financial Services Inc. lifted its stake in shares of Cleveland-Cliffs by 86.2% in the 2nd quarter. Hantz Financial Services Inc. now owns 8,072 shares of the mining company’s stock valued at $61,000 after acquiring an additional 3,738 shares during the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of Cleveland-Cliffs by 408,600.0% in the 1st quarter. AlphaQuest LLC now owns 8,174 shares of the mining company’s stock valued at $67,000 after acquiring an additional 8,172 shares during the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group increased their price target on Cleveland-Cliffs from $12.85 to $14.50 and gave the company a “buy” rating in a research note on Thursday, October 9th. Citigroup increased their price target on Cleveland-Cliffs from $7.50 to $11.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Bank of America increased their price target on Cleveland-Cliffs from $12.50 to $14.50 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. UBS Group set a $15.00 price target on Cleveland-Cliffs in a research note on Monday. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $11.00 price target on shares of Cleveland-Cliffs in a research note on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.73.

Cleveland-Cliffs Stock Down 12.7%

Shares of NYSE:CLF opened at $12.31 on Friday. The firm has a market cap of $6.09 billion, a P/E ratio of -3.62 and a beta of 1.96. The company has a quick ratio of 0.61, a current ratio of 2.04 and a debt-to-equity ratio of 1.41. Cleveland-Cliffs Inc. has a 12-month low of $5.63 and a 12-month high of $16.70. The business has a fifty day simple moving average of $12.26 and a 200 day simple moving average of $9.74.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Monday, October 20th. The mining company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.03. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.90 billion. Cleveland-Cliffs had a negative return on equity of 20.02% and a negative net margin of 9.00%.Cleveland-Cliffs’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the company earned ($0.33) EPS. Analysts predict that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

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.