UMB Bank n.a. Acquires 5,579 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

UMB Bank n.a. boosted its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 243.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,873 shares of the mining company’s stock after buying an additional 5,579 shares during the period. UMB Bank n.a.’s holdings in Cleveland-Cliffs were worth $65,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new stake in Cleveland-Cliffs during the 4th quarter valued at approximately $462,000. Stonebridge Financial Group LLC bought a new stake in shares of Cleveland-Cliffs in the 4th quarter worth approximately $44,000. Louisiana State Employees Retirement System boosted its position in shares of Cleveland-Cliffs by 3.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 134,400 shares of the mining company’s stock worth $1,263,000 after purchasing an additional 4,700 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Cleveland-Cliffs by 11.9% in the 4th quarter. Van ECK Associates Corp now owns 351,212 shares of the mining company’s stock worth $3,301,000 after purchasing an additional 37,343 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in shares of Cleveland-Cliffs by 109.0% in the 4th quarter. Vontobel Holding Ltd. now owns 52,019 shares of the mining company’s stock worth $489,000 after purchasing an additional 27,127 shares in the last quarter. Institutional investors own 67.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CLF shares. The Goldman Sachs Group decreased their price target on Cleveland-Cliffs from $13.00 to $11.25 and set a “buy” rating for the company in a research note on Monday, May 12th. Glj Research cut Cleveland-Cliffs from a “strong-buy” rating to a “strong sell” rating and set a $3.91 price target for the company. in a research note on Wednesday, May 28th. Finally, B. Riley reaffirmed a “buy” rating and issued a $17.00 price objective (down previously from $20.00) on shares of Cleveland-Cliffs in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.03.

Insiders Place Their Bets

In other Cleveland-Cliffs news, EVP James D. Graham sold 120,000 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $6.85, for a total transaction of $822,000.00. Following the transaction, the executive vice president now directly owns 492,249 shares in the company, valued at $3,371,905.65. This trade represents a 19.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.71% of the stock is currently owned by company insiders.

Cleveland-Cliffs Trading Down 0.3%

Shares of NYSE CLF opened at $7.16 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85. The business’s 50 day moving average price is $7.42 and its 200-day moving average price is $9.22. Cleveland-Cliffs Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $16.47. The company has a market cap of $3.54 billion, a price-to-earnings ratio of -7.38 and a beta of 1.85.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings results on Wednesday, May 7th. The mining company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.14). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s quarterly revenue was down 11.0% compared to the same quarter last year. On average, sell-side analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

Cleveland-Cliffs Company 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.