Thrivent Financial for Lutherans Has $1.99 Million Stock Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Thrivent Financial for Lutherans lowered its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 52.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 129,238 shares of the mining company’s stock after selling 142,363 shares during the period. Thrivent Financial for Lutherans’ holdings in Cleveland-Cliffs were worth $1,989,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Drexel Morgan & Co. boosted its stake in shares of Cleveland-Cliffs by 3.3% during the 2nd quarter. Drexel Morgan & Co. now owns 3,083,995 shares of the mining company’s stock worth $47,463,000 after acquiring an additional 97,450 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in Cleveland-Cliffs by 7.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 13,066 shares of the mining company’s stock valued at $201,000 after purchasing an additional 949 shares during the last quarter. Intech Investment Management LLC boosted its position in Cleveland-Cliffs by 815.7% during the second quarter. Intech Investment Management LLC now owns 131,148 shares of the mining company’s stock worth $2,018,000 after purchasing an additional 116,826 shares during the period. XTX Topco Ltd increased its holdings in shares of Cleveland-Cliffs by 332.6% in the second quarter. XTX Topco Ltd now owns 121,295 shares of the mining company’s stock valued at $1,867,000 after purchasing an additional 93,254 shares during the last quarter. Finally, First Washington CORP raised its position in shares of Cleveland-Cliffs by 16.1% in the second quarter. First Washington CORP now owns 342,381 shares of the mining company’s stock valued at $5,269,000 after purchasing an additional 47,398 shares during the period. Institutional investors and hedge funds own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Performance

Shares of Cleveland-Cliffs stock opened at $12.99 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 0.60 and a debt-to-equity ratio of 0.48. The company has a market cap of $6.18 billion, a PE ratio of 17.55 and a beta of 1.97. The company has a 50 day moving average of $12.96 and a 200-day moving average of $16.15. Cleveland-Cliffs Inc. has a 1-year low of $10.21 and a 1-year high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last issued its earnings results on Monday, July 22nd. The mining company reported $0.11 earnings per share for the quarter. Cleveland-Cliffs had a return on equity of 4.94% and a net margin of 0.21%. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter last year, the business posted $0.69 EPS. The company’s revenue was down 14.9% compared to the same quarter last year. As a group, equities research analysts forecast that Cleveland-Cliffs Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CLF. Morgan Stanley decreased their price target on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. Bank of America dropped their price target on Cleveland-Cliffs from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Citigroup decreased their price objective on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. B. Riley reissued a “buy” rating and set a $23.00 target price on shares of Cleveland-Cliffs in a report on Tuesday, June 25th. Finally, 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cleveland-Cliffs has an average rating of “Hold” and a consensus target price of $17.56.

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.