Cerity Partners LLC Sells 170,369 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Cerity Partners LLC reduced its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 46.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 196,250 shares of the mining company's stock after selling 170,369 shares during the quarter. Cerity Partners LLC's holdings in Cleveland-Cliffs were worth $1,845,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Barclays PLC increased its position in Cleveland-Cliffs by 232.4% in the 3rd quarter. Barclays PLC now owns 3,113,337 shares of the mining company's stock worth $39,757,000 after purchasing an additional 2,176,837 shares during the last quarter. M&T Bank Corp grew its stake in shares of Cleveland-Cliffs by 11.4% in the 3rd quarter. M&T Bank Corp now owns 21,574 shares of the mining company's stock valued at $275,000 after buying an additional 2,205 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Cleveland-Cliffs in the third quarter worth approximately $64,000. Franklin Resources Inc. raised its position in Cleveland-Cliffs by 105.6% during the third quarter. Franklin Resources Inc. now owns 262,771 shares of the mining company's stock valued at $3,429,000 after acquiring an additional 134,939 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Cleveland-Cliffs by 1,190.6% in the fourth quarter. GAMMA Investing LLC now owns 5,330 shares of the mining company's stock valued at $50,000 after acquiring an additional 4,917 shares during the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cleveland-Cliffs

In other news, EVP Keith Koci acquired 9,500 shares of the stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $10.81 per share, for a total transaction of $102,695.00. Following the completion of the transaction, the executive vice president now owns 543,475 shares in the company, valued at approximately $5,874,964.75. This trade represents a 1.78 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jane M. Cronin bought 10,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $10.56 per share, with a total value of $105,600.00. Following the completion of the purchase, the director now directly owns 24,522 shares of the company's stock, valued at $258,952.32. This represents a 68.86 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 23,500 shares of company stock valued at $243,095 in the last ninety days. Company insiders own 1.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CLF. Glj Research cut their price target on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating on the stock in a report on Thursday, February 27th. Morgan Stanley cut their target price on Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Monday, February 3rd. The Goldman Sachs Group decreased their price target on Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Finally, B. Riley reissued a "buy" rating on shares of Cleveland-Cliffs in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $16.24.

Cleveland-Cliffs Stock Performance

NYSE:CLF traded up $0.27 during mid-day trading on Tuesday, hitting $7.26. 15,710,397 shares of the company's stock traded hands, compared to its average volume of 14,346,631. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of -7.48 and a beta of 1.93. The firm has a 50 day moving average of $9.13 and a two-hundred day moving average of $10.59. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs Inc. has a 12 month low of $6.17 and a 12 month high of $20.04.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The mining company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.03). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.46 billion. On average, equities analysts forecast that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current fiscal year.

About Cleveland-Cliffs

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.