J.W. Cole Advisors Inc. Has $485,000 Stock Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

J.W. Cole Advisors Inc. cut its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 3.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 23,730 shares of the mining company’s stock after selling 885 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Cleveland-Cliffs were worth $485,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in shares of Cleveland-Cliffs by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,347,056 shares of the mining company’s stock valued at $52,314,000 after purchasing an additional 40,838 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cleveland-Cliffs by 9.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,735,603 shares of the mining company’s stock valued at $42,757,000 after purchasing an additional 236,274 shares during the period. AQR Capital Management LLC boosted its position in Cleveland-Cliffs by 154.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,586,472 shares of the mining company’s stock worth $40,181,000 after acquiring an additional 1,568,961 shares during the last quarter. Douglas Lane & Associates LLC boosted its position in Cleveland-Cliffs by 20.6% during the 4th quarter. Douglas Lane & Associates LLC now owns 2,103,314 shares of the mining company’s stock worth $42,950,000 after acquiring an additional 359,801 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its position in Cleveland-Cliffs by 10.6% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,052,127 shares of the mining company’s stock worth $32,075,000 after acquiring an additional 196,373 shares during the last quarter. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Cleveland-Cliffs Stock Down 11.1 %

CLF opened at $18.53 on Wednesday. Cleveland-Cliffs Inc. has a 1-year low of $13.61 and a 1-year high of $22.97. The stock’s fifty day simple moving average is $20.98 and its 200 day simple moving average is $18.98. The company has a current ratio of 1.89, a quick ratio of 0.62 and a debt-to-equity ratio of 0.39. The stock has a market cap of $8.81 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 0.72 and a beta of 2.03.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings results on Monday, April 22nd. The mining company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Cleveland-Cliffs had a net margin of 1.81% and a return on equity of 6.79%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same quarter last year, the company posted ($0.11) EPS. The firm’s revenue was down 1.8% on a year-over-year basis. As a group, research analysts expect that Cleveland-Cliffs Inc. will post 1.66 earnings per share for the current year.

Insider Activity at Cleveland-Cliffs

In related news, EVP Terry G. Fedor sold 27,430 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total value of $553,811.70. Following the sale, the executive vice president now owns 534,617 shares in the company, valued at approximately $10,793,917.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cleveland-Cliffs news, EVP Terry G. Fedor sold 27,430 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total value of $553,811.70. Following the transaction, the executive vice president now directly owns 534,617 shares of the company’s stock, valued at approximately $10,793,917.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arlene M. Yocum acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average cost of $20.02 per share, for a total transaction of $40,040.00. Following the completion of the acquisition, the director now owns 94,887 shares in the company, valued at $1,899,637.74. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 221,066 shares of company stock worth $4,464,688. Company insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CLF shares. Wolfe Research reaffirmed an “underperform” rating and set a $18.00 price target on shares of Cleveland-Cliffs in a research report on Tuesday, April 9th. TheStreet downgraded Cleveland-Cliffs from a “b-” rating to a “c” rating in a research report on Tuesday, January 30th. BNP Paribas downgraded Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 price target for the company. in a research report on Wednesday, February 28th. Argus downgraded Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $20.00 price objective on shares of Cleveland-Cliffs in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.92.

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.