RWA Wealth Partners LLC Buys 1,450 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

RWA Wealth Partners LLC boosted its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 105,150 shares of the mining company’s stock after acquiring an additional 1,450 shares during the period. RWA Wealth Partners LLC’s holdings in Cleveland-Cliffs were worth $2,147,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in shares of Cleveland-Cliffs by 154.2% in the third quarter. AQR Capital Management LLC now owns 2,586,472 shares of the mining company’s stock worth $40,181,000 after acquiring an additional 1,568,961 shares in the last quarter. Barclays PLC grew its holdings in shares of Cleveland-Cliffs by 240.4% during the third quarter. Barclays PLC now owns 1,988,689 shares of the mining company’s stock worth $31,083,000 after buying an additional 1,404,491 shares in the last quarter. Ninety One UK Ltd bought a new position in shares of Cleveland-Cliffs during the fourth quarter worth about $27,928,000. International Assets Investment Management LLC grew its holdings in shares of Cleveland-Cliffs by 1,627.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,431,769 shares of the mining company’s stock worth $29,237,000 after buying an additional 1,348,893 shares in the last quarter. Finally, First Dallas Securities Inc. grew its holdings in shares of Cleveland-Cliffs by 442.6% during the third quarter. First Dallas Securities Inc. now owns 746,945 shares of the mining company’s stock worth $11,675,000 after buying an additional 609,295 shares in the last quarter. Institutional investors own 67.68% of the company’s stock.

Insider Buying and Selling

In related news, EVP Terry G. Fedor sold 27,430 shares of Cleveland-Cliffs stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total transaction of $553,811.70. Following the completion of the sale, the executive vice president now directly owns 534,617 shares of the company’s stock, valued at approximately $10,793,917.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cleveland-Cliffs news, CEO Lourenco Goncalves sold 187,136 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total transaction of $3,778,275.84. Following the transaction, the chief executive officer now owns 2,699,089 shares in the company, valued at approximately $54,494,606.91. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Terry G. Fedor sold 27,430 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total value of $553,811.70. Following the transaction, the executive vice president now owns 534,617 shares in the company, valued at approximately $10,793,917.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,066 shares of company stock valued at $4,464,688. Insiders own 1.76% of the company’s stock.

Cleveland-Cliffs Stock Performance

Shares of NYSE CLF opened at $18.53 on Wednesday. The stock has a 50 day moving average price of $20.98 and a 200 day moving average price of $18.98. Cleveland-Cliffs Inc. has a 52 week low of $13.61 and a 52 week high of $22.97. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.62 and a current ratio of 1.89. The stock has a market capitalization of $8.81 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 0.72 and a beta of 2.03.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings data on Tuesday, April 23rd. The mining company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Cleveland-Cliffs had a net margin of 1.78% and a return on equity of 8.50%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same period in the previous year, the business earned ($0.11) earnings per share. The business’s quarterly revenue was down 1.8% on a year-over-year basis. Analysts predict that Cleveland-Cliffs Inc. will post 1.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CLF. BNP Paribas downgraded Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 price objective for the company. in a report on Wednesday, February 28th. TheStreet downgraded Cleveland-Cliffs from a “b-” rating to a “c” rating in a report on Tuesday, January 30th. Citigroup downgraded Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 price objective for the company. in a report on Wednesday, March 13th. Morgan Stanley reissued an “equal weight” rating and set a $20.00 price target on shares of Cleveland-Cliffs in a research report on Tuesday, March 26th. Finally, StockNews.com raised Cleveland-Cliffs from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.92.

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.