Collaborative Wealth Managment Inc. acquired a new stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,970 shares of the mining company’s stock, valued at approximately $282,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp increased its holdings in shares of Cleveland-Cliffs by 21.3% during the fourth quarter. Jones Financial Companies Lllp now owns 6,723 shares of the mining company’s stock valued at $63,000 after acquiring an additional 1,182 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Cleveland-Cliffs by 11.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 13,270 shares of the mining company’s stock valued at $125,000 after buying an additional 1,313 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Cleveland-Cliffs by 9.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 17,848 shares of the mining company’s stock valued at $168,000 after buying an additional 1,479 shares during the last quarter. Strengthening Families & Communities LLC boosted its position in shares of Cleveland-Cliffs by 299.8% during the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after buying an additional 1,490 shares during the last quarter. Finally, Private Trust Co. NA boosted its position in shares of Cleveland-Cliffs by 3.8% during the third quarter. Private Trust Co. NA now owns 40,531 shares of the mining company’s stock valued at $518,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 67.68% of the company’s stock.
Insider Buying and Selling
In related news, Director John T. Baldwin acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average price of $8.70 per share, with a total value of $34,800.00. Following the acquisition, the director now owns 133,227 shares of the company’s stock, valued at approximately $1,159,074.90. This trade represents a 3.10 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jane M. Cronin acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average cost of $10.56 per share, for a total transaction of $105,600.00. Following the acquisition, the director now directly owns 24,522 shares in the company, valued at $258,952.32. This represents a 68.86 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 23,500 shares of company stock valued at $243,095. Corporate insiders own 1.76% of the company’s stock.
Analysts Set New Price Targets
Get Our Latest Stock Report on CLF
Cleveland-Cliffs Stock Up 7.1 %
Shares of NYSE CLF opened at $10.42 on Friday. Cleveland-Cliffs Inc. has a one year low of $8.50 and a one year high of $22.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The business’s fifty day moving average price is $10.40 and its 200-day moving average price is $11.41. The stock has a market capitalization of $5.15 billion, a PE ratio of -10.74 and a beta of 1.94.
Cleveland-Cliffs (NYSE:CLF – Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The mining company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.03). The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations 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, equities research analysts anticipate that Cleveland-Cliffs Inc. will post -0.79 EPS for the current year.
About Cleveland-Cliffs
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.
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