Cleveland-Cliffs Inc. (NYSE:CLF) Shares Sold by Alan B Lancz & Associates Inc.

Alan B Lancz & Associates Inc. lessened its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,400 shares of the mining company’s stock after selling 1,600 shares during the quarter. Alan B Lancz & Associates Inc.’s holdings in Cleveland-Cliffs were worth $209,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CLF. Twelve Points Wealth Management LLC increased its stake in Cleveland-Cliffs by 58.5% during the third quarter. Twelve Points Wealth Management LLC now owns 133,717 shares of the mining company’s stock worth $1,708,000 after purchasing an additional 49,359 shares during the period. Hodges Capital Management Inc. lifted its holdings in Cleveland-Cliffs by 5.0% during the 2nd quarter. Hodges Capital Management Inc. now owns 2,199,634 shares of the mining company’s stock worth $33,852,000 after buying an additional 104,197 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Cleveland-Cliffs by 2.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 40,118 shares of the mining company’s stock worth $879,000 after buying an additional 984 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Cleveland-Cliffs by 82.2% in the 1st quarter. Russell Investments Group Ltd. now owns 392,842 shares of the mining company’s stock valued at $8,932,000 after buying an additional 177,198 shares during the period. Finally, Natixis acquired a new position in shares of Cleveland-Cliffs in the first quarter worth $100,000. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Performance

Shares of CLF opened at $12.87 on Friday. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of -13.27 and a beta of 1.97. Cleveland-Cliffs Inc. has a 52-week low of $10.21 and a 52-week high of $22.97. The company has a quick ratio of 0.60, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The stock has a 50 day moving average price of $12.63 and a 200 day moving average price of $14.49.

Cleveland-Cliffs (NYSE:CLF) last issued its earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.72 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The company’s quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 EPS. Research analysts predict that Cleveland-Cliffs Inc. will post -0.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CLF has been the topic of several analyst reports. StockNews.com cut Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday. Morgan Stanley reduced their price target on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Citigroup reduced their target price on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.56.

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.