UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Position in Cleveland-Cliffs Inc. (NYSE:CLF)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 22.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,298,868 shares of the mining company's stock after purchasing an additional 242,386 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.26% of Cleveland-Cliffs worth $12,209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pinpoint Asset Management Ltd acquired a new position in shares of Cleveland-Cliffs in the fourth quarter worth $25,000. Estabrook Capital Management increased its position in Cleveland-Cliffs by 207.7% during the 4th quarter. Estabrook Capital Management now owns 4,000 shares of the mining company's stock worth $38,000 after purchasing an additional 2,700 shares in the last quarter. Byrne Asset Management LLC raised its stake in Cleveland-Cliffs by 130.0% in the 4th quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company's stock valued at $43,000 after purchasing an additional 2,600 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in Cleveland-Cliffs in the 4th quarter valued at about $44,000. Finally, AllSquare Wealth Management LLC lifted its holdings in Cleveland-Cliffs by 24.4% in the 4th quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company's stock valued at $48,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 67.68% of the company's stock.

Insider Transactions at Cleveland-Cliffs

In other Cleveland-Cliffs news, Director John T. Baldwin purchased 4,000 shares of Cleveland-Cliffs stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $8.70 per share, with a total value of $34,800.00. Following the completion of the transaction, the director now directly owns 133,227 shares in the company, valued at approximately $1,159,074.90. This represents a 3.10% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James D. Graham sold 120,000 shares of the 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 completion of the sale, the executive vice president now directly owns 492,249 shares of the company's stock, valued at $3,371,905.65. The trade was a 19.60% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.71% of the company's stock.

Cleveland-Cliffs Trading Up 5.2%

Shares of CLF traded up $0.38 during mid-day trading on Tuesday, reaching $7.56. The company had a trading volume of 100,334,102 shares, compared to its average volume of 16,969,470. Cleveland-Cliffs Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $17.00. The firm has a fifty day simple moving average of $7.47 and a 200-day simple moving average of $9.45. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -7.79 and a beta of 2.03. 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 (NYSE:CLF - Get Free Report) last issued its earnings results on Wednesday, May 7th. The mining company reported ($0.92) earnings per share for the quarter, missing analysts' consensus estimates of ($0.78) by ($0.14). The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.71 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. Cleveland-Cliffs's revenue was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 EPS. On average, sell-side analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CLF has been the subject of a number of analyst reports. Glj Research lowered shares of Cleveland-Cliffs from a "strong-buy" rating to a "strong sell" rating and set a $3.91 price objective for the company. in a research report on Wednesday, May 28th. Morgan Stanley cut their price target on Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. The Goldman Sachs Group reduced their price target on Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating on the stock in a research note on Monday, May 12th. 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 research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $12.74.

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.