Rhumbline Advisers Grows Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Rhumbline Advisers grew its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,366,077 shares of the mining company’s stock after acquiring an additional 45,522 shares during the period. Rhumbline Advisers owned about 0.28% of Cleveland-Cliffs worth $12,841,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC grew its holdings in Cleveland-Cliffs by 299.8% during the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after acquiring an additional 1,490 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Cleveland-Cliffs during the 3rd quarter worth $34,000. Truvestments Capital LLC acquired a new position in Cleveland-Cliffs during the 3rd quarter worth $34,000. Byrne Asset Management LLC grew its holdings in Cleveland-Cliffs by 130.0% during the 4th quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company’s stock worth $43,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in Cleveland-Cliffs during the 4th quarter worth $44,000. 67.68% of the stock is owned by institutional investors and hedge funds.

Cleveland-Cliffs Trading Down 5.3 %

Cleveland-Cliffs stock opened at $11.35 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $10.22 and a two-hundred day moving average price of $11.72. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of -11.70 and a beta of 1.96. Cleveland-Cliffs Inc. has a 52-week low of $8.99 and a 52-week high of $22.97.

Analysts Set New Price Targets

CLF has been the subject of several recent analyst reports. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Morgan Stanley decreased their price target on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Glj Research raised shares of Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 price target for the company in a report on Tuesday, January 7th. B. Riley reaffirmed a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. Finally, Citigroup decreased their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cleveland-Cliffs currently has an average rating of “Hold” and a consensus price target of $16.68.

Cleveland-Cliffs 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.