Amalgamated Bank Sells 7,804 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Amalgamated Bank cut its position in Cleveland-Cliffs Inc. (NYSE:CLFFree Report) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 327,562 shares of the mining company’s stock after selling 7,804 shares during the period. Amalgamated Bank owned 0.06% of Cleveland-Cliffs worth $5,120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CLF. J.P. Morgan Private Wealth Advisors LLC raised its stake in shares of Cleveland-Cliffs by 18.5% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 12,802 shares of the mining company’s stock worth $200,000 after acquiring an additional 1,995 shares during the last quarter. Moors & Cabot Inc. raised its stake in shares of Cleveland-Cliffs by 5.8% in the third quarter. Moors & Cabot Inc. now owns 45,738 shares of the mining company’s stock worth $715,000 after acquiring an additional 2,500 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Cleveland-Cliffs by 149.6% in the third quarter. Quantbot Technologies LP now owns 402,208 shares of the mining company’s stock worth $6,287,000 after acquiring an additional 241,074 shares during the last quarter. Metis Global Partners LLC raised its stake in shares of Cleveland-Cliffs by 7.3% in the third quarter. Metis Global Partners LLC now owns 20,332 shares of the mining company’s stock worth $318,000 after acquiring an additional 1,387 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Cleveland-Cliffs by 240.4% in the third quarter. Barclays PLC now owns 1,988,689 shares of the mining company’s stock worth $31,083,000 after acquiring an additional 1,404,491 shares during the last quarter. 60.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on CLF. Argus downgraded shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley boosted their target price 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. TheStreet downgraded shares of Cleveland-Cliffs from a “b-” rating to a “c” rating in a research note on Tuesday, January 30th. Finally, StockNews.com downgraded shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $21.63.

View Our Latest Report on CLF

Cleveland-Cliffs Trading Up 0.2 %

CLF opened at $19.78 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.89 and a quick ratio of 0.62. The company has a market cap of $9.99 billion, a price-to-earnings ratio of 25.69 and a beta of 2.04. The firm has a 50 day simple moving average of $19.07 and a 200 day simple moving average of $16.89. Cleveland-Cliffs Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $22.83.

Cleveland-Cliffs (NYSE:CLFGet Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The mining company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.16 billion. Cleveland-Cliffs had a net margin of 1.81% and a return on equity of 6.79%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.30) earnings per share. On average, sell-side analysts anticipate that Cleveland-Cliffs Inc. will post 2.27 earnings per share for the current year.

Insider Activity at Cleveland-Cliffs

In other news, Director Ron A. Bloom acquired 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $20.24 per share, for a total transaction of $506,000.00. Following the completion of the acquisition, the director now owns 27,221 shares in the company, valued at $550,953.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.57% of the company’s stock.

Cleveland-Cliffs Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Cleveland-Cliffs (NYSE:CLF)

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