Blair William & Co. IL Sells 905 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Blair William & Co. IL reduced its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,677 shares of the mining company’s stock after selling 905 shares during the quarter. Blair William & Co. IL’s holdings in Cleveland-Cliffs were worth $1,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Rise Advisors LLC grew its position in Cleveland-Cliffs by 2,858.0% during the first quarter. Rise Advisors LLC now owns 1,479 shares of the mining company’s stock worth $34,000 after buying an additional 1,429 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in Cleveland-Cliffs by 41.7% during the first quarter. Hexagon Capital Partners LLC now owns 1,700 shares of the mining company’s stock worth $39,000 after buying an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Cleveland-Cliffs by 247.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock valued at $43,000 after buying an additional 1,343 shares during the period. LRI Investments LLC acquired a new position in shares of Cleveland-Cliffs in the 1st quarter valued at $45,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Cleveland-Cliffs during the 2nd quarter worth about $31,000. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Cleveland-Cliffs Stock Performance

CLF opened at $11.87 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.60 and a current ratio of 1.87. The business’s 50-day simple moving average is $13.25 and its 200 day simple moving average is $16.43. The firm has a market capitalization of $5.64 billion, a PE ratio of 16.04, a PEG ratio of 21.57 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.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings data on Monday, July 22nd. The mining company reported $0.11 earnings per share for the quarter. Cleveland-Cliffs had a net margin of 0.21% and a return on equity of 4.94%. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same period in the previous year, the business earned $0.69 EPS. Cleveland-Cliffs’s revenue for the quarter was down 14.9% compared to the same quarter last year. As a group, sell-side analysts expect that Cleveland-Cliffs Inc. will post 0.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CLF. 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. Seaport Res Ptn upgraded Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Bank of America reduced their target price on shares of Cleveland-Cliffs from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Morgan Stanley cut their price target on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Finally, B. Riley reaffirmed a “buy” rating and set a $23.00 price objective on shares of Cleveland-Cliffs in a research note on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.56.

Cleveland-Cliffs Company 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.