Dimensional Fund Advisors LP Decreases Holdings in Cleveland-Cliffs Inc. $CLF

Dimensional Fund Advisors LP trimmed its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 14.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,218,846 shares of the mining company’s stock after selling 2,994,777 shares during the period. Dimensional Fund Advisors LP’s holdings in Cleveland-Cliffs were worth $210,089,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Strengthening Families & Communities LLC increased its position in shares of Cleveland-Cliffs by 4,315.6% during the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after purchasing an additional 1,942 shares in the last quarter. Winch Advisory Services LLC lifted its holdings in shares of Cleveland-Cliffs by 131.3% during the 2nd quarter. Winch Advisory Services LLC now owns 4,070 shares of the mining company’s stock valued at $31,000 after purchasing an additional 2,310 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its position in shares of Cleveland-Cliffs by 72.6% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 2,768 shares of the mining company’s stock worth $34,000 after purchasing an additional 1,164 shares in the last quarter. Islay Capital Management LLC acquired a new stake in shares of Cleveland-Cliffs in the 2nd quarter worth $38,000. Finally, MTM Investment Management LLC purchased a new position in Cleveland-Cliffs during the 2nd quarter worth $40,000. 67.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wells Fargo & Company raised Cleveland-Cliffs from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $11.00 to $12.00 in a research report on Friday, November 14th. Morgan Stanley raised Cleveland-Cliffs from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $12.80 to $17.00 in a report on Friday, January 9th. KeyCorp lowered Cleveland-Cliffs from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 7th. Glj Research cut their price objective on shares of Cleveland-Cliffs from $9.52 to $9.42 and set a “sell” rating on the stock in a report on Tuesday, February 10th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Cleveland-Cliffs in a research report on Monday, February 9th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Cleveland-Cliffs currently has a consensus rating of “Hold” and an average target price of $13.89.

Insider Buying and Selling

In other news, Director Edilson Camara bought 19,700 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was purchased at an average price of $10.13 per share, with a total value of $199,561.00. Following the completion of the acquisition, the director directly owned 41,983 shares of the company’s stock, valued at $425,287.79. This trade represents a 88.41% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Clifford T. Smith sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $10.46, for a total value of $2,092,000.00. Following the completion of the sale, the chief operating officer owned 560,529 shares in the company, valued at approximately $5,863,133.34. This represents a 26.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.71% of the company’s stock.

Cleveland-Cliffs Stock Performance

Shares of CLF stock opened at $9.83 on Friday. The business has a fifty day moving average of $12.62 and a 200 day moving average of $12.32. Cleveland-Cliffs Inc. has a 1 year low of $5.63 and a 1 year high of $16.70. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.95 and a quick ratio of 0.50. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of -3.37 and a beta of 1.99.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings results on Monday, February 9th. The mining company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.62) by $0.19. The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.60 billion. Cleveland-Cliffs had a negative return on equity of 18.94% and a negative net margin of 7.91%.The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.68) EPS. As a group, research analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.