Signaturefd LLC Buys 5,047 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Signaturefd LLC lifted its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 138.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,682 shares of the mining company’s stock after acquiring an additional 5,047 shares during the period. Signaturefd LLC’s holdings in Cleveland-Cliffs were worth $111,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its stake in Cleveland-Cliffs by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,053 shares of the mining company’s stock valued at $570,000 after acquiring an additional 476 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Cleveland-Cliffs by 41.7% in the first quarter. Hexagon Capital Partners LLC now owns 1,700 shares of the mining company’s stock valued at $39,000 after acquiring an additional 500 shares during the last quarter. State of Michigan Retirement System lifted its stake in Cleveland-Cliffs by 0.9% in the first quarter. State of Michigan Retirement System now owns 138,027 shares of the mining company’s stock valued at $3,139,000 after acquiring an additional 1,200 shares during the last quarter. Fluent Financial LLC acquired a new stake in Cleveland-Cliffs in the first quarter valued at $251,000. Finally, Oak Harvest Investment Services acquired a new stake in Cleveland-Cliffs in the first quarter valued at $929,000. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Performance

Shares of CLF stock opened at $13.67 on Tuesday. The firm has a market capitalization of $6.50 billion, a PE ratio of 18.47 and a beta of 1.98. The firm has a fifty day simple moving average of $12.65 and a two-hundred day simple moving average of $14.93. The company has a current ratio of 1.87, a quick ratio of 0.60 and a debt-to-equity ratio of 0.48. Cleveland-Cliffs Inc. has a 12 month low of $10.21 and a 12 month high of $22.97.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CLF. Citigroup cut their target price on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research note on Tuesday, September 10th. Seaport Res Ptn upgraded shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Morgan Stanley cut their target price on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.