Dimensional Fund Advisors LP Decreases Stake in Cleveland-Cliffs Inc. (NYSE:CLF)

Dimensional Fund Advisors LP lowered its holdings in Cleveland-Cliffs Inc. (NYSE:CLF – Get Rating) by 1.0% in the fourth quarter, HoldingsChannel reports. The firm owned 6,286,948 shares of the mining company’s stock after selling 63,649 shares during the period. Dimensional Fund Advisors LP’s holdings in Cleveland-Cliffs were worth $101,293,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Destiny Wealth Partners LLC acquired a new stake in shares of Cleveland-Cliffs during the 4th quarter worth approximately $32,000. Lazard Asset Management LLC boosted its position in shares of 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 buying an additional 746 shares during the period. First Eagle Investment Management LLC boosted its position in Cleveland-Cliffs by 27.7% during the fourth quarter. First Eagle Investment Management LLC now owns 2,444 shares of the mining company’s stock valued at $39,000 after purchasing an additional 530 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Cleveland-Cliffs by 108.6% during the third quarter. Quadrant Capital Group LLC now owns 3,075 shares of the mining company’s stock valued at $41,000 after purchasing an additional 1,601 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its position in Cleveland-Cliffs by 250.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the mining company’s stock valued at $56,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Activity

In other news, Director Susan Miranda Green sold 8,700 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $22.66, for a total transaction of $197,142.00. Following the completion of the transaction, the director now directly owns 87,353 shares of the company’s stock, valued at $1,979,418.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cleveland-Cliffs news, CEO Lourenco Goncalves purchased 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were bought at an average price of $14.96 per share, with a total value of $1,496,000.00. Following the completion of the purchase, the chief executive officer now directly owns 2,464,885 shares in the company, valued at $36,874,679.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan Miranda Green sold 8,700 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $22.66, for a total transaction of $197,142.00. Following the sale, the director now directly owns 87,353 shares in the company, valued at approximately $1,979,418.98. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 125,300 shares of company stock valued at $1,875,531. Corporate insiders own 1.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. BNP Paribas upgraded Cleveland-Cliffs from an “underperform” rating to a “neutral” rating and set a $21.00 price objective on the stock in a research note on Wednesday, January 25th. StockNews.com cut shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. Wolfe Research upgraded shares of Cleveland-Cliffs from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 20th. Citigroup increased their price objective on shares of Cleveland-Cliffs from $16.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, February 13th. Finally, B. Riley dropped their target price on shares of Cleveland-Cliffs from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, February 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.11.

Cleveland-Cliffs Price Performance

Shares of NYSE:CLF opened at $14.93 on Monday. The company’s fifty day moving average price is $16.64 and its 200-day moving average price is $17.54. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 16.59 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 company has a debt-to-equity ratio of 0.59, a current ratio of 2.15 and a quick ratio of 0.73.

Cleveland-Cliffs (NYSE:CLF – Get Rating) last released its earnings results on Tuesday, April 25th. The mining company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.09. Cleveland-Cliffs had a net margin of 2.14% and a return on equity of 8.32%. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.21 billion. During the same quarter last year, the firm earned $1.71 EPS. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, equities research analysts anticipate that Cleveland-Cliffs Inc. will post 2.07 earnings per share for the current fiscal year.

About Cleveland-Cliffs

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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.