Cleveland-Cliffs Inc. (NYSE:CLF) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 38.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 164,170 shares of the mining company’s stock after purchasing an additional 45,247 shares during the period. Illinois Municipal Retirement Fund’s holdings in Cleveland-Cliffs were worth $1,543,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Amalgamated Bank raised its holdings in shares of Cleveland-Cliffs by 3.8% during the fourth quarter. Amalgamated Bank now owns 234,212 shares of the mining company’s stock worth $2,202,000 after purchasing an additional 8,596 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Cleveland-Cliffs by 20.1% during the fourth quarter. Bank of New York Mellon Corp now owns 7,382,769 shares of the mining company’s stock worth $69,398,000 after purchasing an additional 1,236,247 shares during the period. ST. Nicholas Private Asset Management Inc. acquired a new stake in shares of Cleveland-Cliffs during the fourth quarter worth $101,000. Navellier & Associates Inc. acquired a new stake in shares of Cleveland-Cliffs during the fourth quarter worth $97,000. Finally, Private Advisor Group LLC raised its holdings in shares of Cleveland-Cliffs by 1.9% during the fourth quarter. Private Advisor Group LLC now owns 334,253 shares of the mining company’s stock worth $3,142,000 after purchasing an additional 6,263 shares during the period. 67.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cleveland-Cliffs

In other Cleveland-Cliffs news, EVP Keith Koci purchased 9,500 shares of the business’s stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $10.81 per share, with a total value of $102,695.00. Following the acquisition, the executive vice president now owns 543,475 shares of the company’s stock, valued at $5,874,964.75. The trade was a 1.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jane M. Cronin purchased 10,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $10.56 per share, with a total value of $105,600.00. Following the completion of the acquisition, the director now directly owns 24,522 shares in the company, valued at $258,952.32. The trade was a 68.86 % increase in their position. The disclosure for this purchase can be found here. 1.76% of the stock is owned by corporate insiders.

Cleveland-Cliffs Stock Performance

Shares of CLF opened at $10.83 on Friday. The firm has a 50-day moving average price of $10.34 and a 200 day moving average price of $11.64. The firm has a market capitalization of $5.35 billion, a PE ratio of -11.16 and a beta of 1.96. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs Inc. has a 52-week low of $8.99 and a 52-week high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Monday, February 24th. The mining company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.03). The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CLF has been the subject of several recent research reports. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Glj Research lowered their price target on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating for the company in a research report on Thursday. The Goldman Sachs Group initiated coverage on shares of Cleveland-Cliffs in a research report on Monday, December 2nd. They set a “buy” rating and a $16.00 price target for the company. Morgan Stanley lowered 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 report on Monday, February 3rd. Finally, B. Riley restated a “buy” rating on shares of Cleveland-Cliffs in a research report on Tuesday, February 4th. 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.com, Cleveland-Cliffs has a consensus rating of “Hold” and a consensus target price of $16.54.

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.