SFE Investment Counsel Cuts Stake in Cleveland-Cliffs Inc. (NYSE:CLF)

SFE Investment Counsel lessened its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 836,254 shares of the mining company’s stock after selling 32,416 shares during the period. Cleveland-Cliffs makes up approximately 1.7% of SFE Investment Counsel’s portfolio, making the stock its 19th largest position. SFE Investment Counsel owned 0.17% of Cleveland-Cliffs worth $7,861,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CLF. Van ECK Associates Corp grew its stake in Cleveland-Cliffs by 11.9% during the 4th quarter. Van ECK Associates Corp now owns 351,212 shares of the mining company’s stock worth $3,301,000 after purchasing an additional 37,343 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Cleveland-Cliffs by 3.6% during the fourth quarter. Louisiana State Employees Retirement System now owns 134,400 shares of the mining company’s stock worth $1,263,000 after buying an additional 4,700 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Cleveland-Cliffs during the fourth quarter worth approximately $44,000. Kestra Private Wealth Services LLC lifted its stake in Cleveland-Cliffs by 10.8% in the fourth quarter. Kestra Private Wealth Services LLC now owns 160,130 shares of the mining company’s stock worth $1,505,000 after acquiring an additional 15,638 shares during the last quarter. Finally, Entropy Technologies LP increased its position in shares of Cleveland-Cliffs by 955.2% in the 4th quarter. Entropy Technologies LP now owns 171,993 shares of the mining company’s stock valued at $1,617,000 after purchasing an additional 155,693 shares during the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CLF. Morgan Stanley lowered their target price 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. Glj Research raised Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price objective for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group started coverage on Cleveland-Cliffs in a research report on Monday, December 2nd. They set a “buy” rating and a $16.00 target price on the stock. StockNews.com downgraded Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Citigroup cut their price objective on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.68.

Cleveland-Cliffs Stock Performance

CLF stock opened at $10.55 on Thursday. The company has a fifty day moving average price of $10.21 and a 200 day moving average price of $11.85. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs Inc. has a 12 month low of $8.99 and a 12 month high of $22.97.

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.