Cleveland-Cliffs Inc. (NYSE:CLF) Position Reduced by Wintrust Investments LLC

Wintrust Investments LLC reduced its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 22.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 64,800 shares of the mining company’s stock after selling 18,950 shares during the period. Wintrust Investments LLC’s holdings in Cleveland-Cliffs were worth $1,086,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Gradient Investments LLC increased its holdings in shares of Cleveland-Cliffs by 192.5% in the 2nd quarter. Gradient Investments LLC now owns 1,755 shares of the mining company’s stock worth $29,000 after acquiring an additional 1,155 shares during the period. PrairieView Partners LLC acquired a new stake in shares of Cleveland-Cliffs in the 2nd quarter worth about $30,000. Ameritas Advisory Services LLC acquired a new stake in shares of Cleveland-Cliffs in the 1st quarter worth about $35,000. Lazard Asset Management LLC increased its stake in Cleveland-Cliffs by 218.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,088 shares of the mining company’s stock valued at $35,000 after buying an additional 746 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Cleveland-Cliffs during the 1st quarter valued at about $38,000. 60.97% of the stock is currently owned by institutional investors.

Cleveland-Cliffs Stock Up 1.2 %

Cleveland-Cliffs stock opened at $17.03 on Thursday. The company has a market capitalization of $8.60 billion, a P/E ratio of 25.41 and a beta of 2.17. The firm’s fifty day simple moving average is $15.45 and its 200-day simple moving average is $15.63. The company has a current ratio of 2.11, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42. Cleveland-Cliffs Inc. has a 1-year low of $13.61 and a 1-year high of $22.83.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Tuesday, October 24th. The mining company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.44 by $0.10. Cleveland-Cliffs had a net margin of 1.55% and a return on equity of 5.16%. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same quarter last year, the firm posted $0.29 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis. Sell-side analysts forecast that Cleveland-Cliffs Inc. will post 1.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. B. Riley decreased their price target on shares of Cleveland-Cliffs from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, September 27th. Morgan Stanley raised their price objective on shares of Cleveland-Cliffs from $19.00 to $21.50 and gave the stock an “overweight” rating in a research note on Tuesday, October 31st. StockNews.com started coverage on shares of Cleveland-Cliffs in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Citigroup raised shares of Cleveland-Cliffs from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Monday, September 25th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.81.

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.