Mutual of America Capital Management LLC Raises Stake in Cleveland-Cliffs Inc. (NYSE:CLF)

Mutual of America Capital Management LLC boosted its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,704 shares of the mining company’s stock after buying an additional 2,750 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of Cleveland-Cliffs worth $2,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC boosted its stake in Cleveland-Cliffs by 11.0% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 13,270 shares of the mining company’s stock worth $125,000 after buying an additional 1,313 shares in the last quarter. Strengthening Families & Communities LLC boosted its stake in Cleveland-Cliffs by 299.8% in the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after buying an additional 1,490 shares in the last quarter. Private Trust Co. NA boosted its stake in Cleveland-Cliffs by 3.8% in the third quarter. Private Trust Co. NA now owns 40,531 shares of the mining company’s stock worth $518,000 after buying an additional 1,500 shares in the last quarter. Archer Investment Corp boosted its stake in shares of Cleveland-Cliffs by 25.8% during the third quarter. Archer Investment Corp now owns 7,799 shares of the mining company’s stock valued at $100,000 after purchasing an additional 1,600 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Cleveland-Cliffs by 6.6% during the third quarter. US Bancorp DE now owns 28,752 shares of the mining company’s stock valued at $367,000 after purchasing an additional 1,789 shares during the period. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CLF. The Goldman Sachs Group dropped their price objective on Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday. Glj Research dropped their price objective on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating for the company in a research note on Thursday, February 27th. B. Riley reissued a “buy” rating on shares of Cleveland-Cliffs in a research note on Tuesday, February 4th. Morgan Stanley dropped their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Finally, Citigroup dropped their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has assigned a strong 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 $16.43.

Cleveland-Cliffs Price Performance

Shares of NYSE:CLF opened at $9.79 on Friday. Cleveland-Cliffs Inc. has a 1-year low of $8.99 and a 1-year high of $22.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The business has a fifty day moving average price of $10.38 and a 200-day moving average price of $11.57. The company has a market capitalization of $4.84 billion, a PE ratio of -10.09 and a beta of 1.96.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings results on Monday, February 24th. The mining company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.03). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.46 billion. As a group, equities analysts expect that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

Insider Activity

In other Cleveland-Cliffs news, Director Jane M. Cronin acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average cost of $10.56 per share, with a total value of $105,600.00. Following the completion of the transaction, the director now directly owns 24,522 shares of the company’s stock, valued at approximately $258,952.32. This represents a 68.86 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Keith Koci acquired 9,500 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $10.81 per share, for a total transaction of $102,695.00. Following the completion of the transaction, the executive vice president now directly owns 543,475 shares of the company’s stock, valued at $5,874,964.75. The trade was a 1.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.76% of the company’s stock.

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.