Cleveland-Cliffs Inc. (NYSE:CLF) Shares Purchased by Crumly & Associates Inc.

Crumly & Associates Inc. boosted its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,161 shares of the mining company’s stock after acquiring an additional 1,821 shares during the quarter. Crumly & Associates Inc.’s holdings in Cleveland-Cliffs were worth $1,095,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC raised its stake in shares of Cleveland-Cliffs by 2,858.0% in the 1st quarter. Rise Advisors LLC now owns 1,479 shares of the mining company’s stock valued at $34,000 after acquiring an additional 1,429 shares during the period. Hexagon Capital Partners LLC grew its stake in Cleveland-Cliffs by 41.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,700 shares of the mining company’s stock worth $39,000 after purchasing an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Cleveland-Cliffs by 247.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock worth $43,000 after purchasing an additional 1,343 shares during the period. LRI Investments LLC acquired a new stake in Cleveland-Cliffs in the 1st quarter valued at about $45,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Cleveland-Cliffs in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 67.68% of the company’s stock.

Insider Activity

In other news, CFO Celso L. Goncalves, Jr. purchased 7,250 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was purchased at an average cost of $14.98 per share, with a total value of $108,605.00. Following the completion of the acquisition, the chief financial officer now directly owns 314,362 shares of the company’s stock, valued at approximately $4,709,142.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cleveland-Cliffs news, Director Ben Oren bought 6,700 shares of Cleveland-Cliffs stock in a transaction on Wednesday, June 12th. The stock was bought at an average price of $14.99 per share, with a total value of $100,433.00. Following the completion of the acquisition, the director now owns 14,167 shares in the company, valued at $212,363.33. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Celso L. Goncalves, Jr. purchased 7,250 shares of the stock in a transaction dated Wednesday, June 12th. The shares were bought at an average cost of $14.98 per share, for a total transaction of $108,605.00. Following the completion of the purchase, the chief financial officer now owns 314,362 shares in the company, valued at $4,709,142.76. The disclosure for this purchase can be found here. Insiders own 1.76% of the company’s stock.

Cleveland-Cliffs Stock Performance

NYSE:CLF traded down $0.35 during trading hours on Thursday, reaching $11.64. 5,316,249 shares of the company’s stock were exchanged, compared to its average volume of 9,281,422. The company has a quick ratio of 0.60, a current ratio of 1.87 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 7.70 and a beta of 2.03. Cleveland-Cliffs Inc. has a 1-year low of $11.61 and a 1-year high of $22.97. The company has a 50-day moving average of $14.31 and a 200 day moving average of $17.25.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings results on Monday, July 22nd. The mining company reported $0.11 EPS for the quarter. Cleveland-Cliffs had a return on equity of 4.94% and a net margin of 0.21%. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.18 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. Research analysts anticipate that Cleveland-Cliffs Inc. will post 0.04 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CLF. Morgan Stanley reduced their target price on shares of Cleveland-Cliffs from $17.50 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. JPMorgan Chase & Co. downgraded Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $17.00 in a report on Tuesday, June 11th. Seaport Res Ptn upgraded Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. B. Riley reiterated a “buy” rating and issued a $23.00 price target on shares of Cleveland-Cliffs in a research note on Tuesday, June 25th. Finally, Jefferies Financial Group began coverage on shares of Cleveland-Cliffs in a report on Monday, May 20th. They set a “buy” rating and a $22.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cleveland-Cliffs presently has an average rating of “Hold” and an average price target of $18.94.

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.