Stevens Capital Management LP Takes Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Stevens Capital Management LP acquired a new position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 16,911 shares of the mining company’s stock, valued at approximately $159,000.

Several other institutional investors have also recently added to or reduced their stakes in CLF. Truvestments Capital LLC acquired a new position in Cleveland-Cliffs in the 3rd quarter valued at about $34,000. Byrne Asset Management LLC boosted its stake in shares of Cleveland-Cliffs by 130.0% in the fourth 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 period. Stonebridge Financial Group LLC acquired a new position in shares of Cleveland-Cliffs in the fourth quarter valued at approximately $44,000. AllSquare Wealth Management LLC increased its stake in Cleveland-Cliffs by 24.4% during the 4th quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company’s stock worth $48,000 after buying an additional 1,000 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Cleveland-Cliffs by 1,190.6% during the 4th quarter. GAMMA Investing LLC now owns 5,330 shares of the mining company’s stock worth $50,000 after buying an additional 4,917 shares in the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Insider Activity

In other Cleveland-Cliffs news, Director Jane M. Cronin purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $10.56 per share, for a total transaction of $105,600.00. Following the purchase, the director now directly owns 24,522 shares in the company, valued at approximately $258,952.32. This trade represents a 68.86 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Baldwin acquired 4,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $8.70 per share, for a total transaction of $34,800.00. Following the completion of the purchase, the director now owns 133,227 shares of the company’s stock, valued at $1,159,074.90. This trade represents a 3.10 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 23,500 shares of company stock valued at $243,095. 1.76% of the stock is currently owned by company insiders.

Cleveland-Cliffs Trading Up 1.3 %

Shares of Cleveland-Cliffs stock opened at $9.41 on Wednesday. The company has a fifty day simple moving average of $10.34 and a 200-day simple moving average of $11.26. Cleveland-Cliffs Inc. has a 12-month low of $8.50 and a 12-month high of $22.97. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of -9.70 and a beta of 1.94.

Cleveland-Cliffs (NYSE:CLF) last posted its earnings results 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). The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. On average, equities analysts forecast that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. B. Riley reaffirmed a “buy” rating on shares of Cleveland-Cliffs in a research report on Tuesday, February 4th. Glj Research cut their price target on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating on the stock in a report on Thursday, February 27th. Citigroup decreased their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. The Goldman Sachs Group cut their target price on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, Morgan Stanley decreased their price target on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.43.

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.