Hodges Capital Management Inc. cut its stake in shares of Cleveland-Cliffs Inc (NYSE:CLF) by 53.1% in the fourth quarter, Holdings Channel reports. The fund owned 165,885 shares of the mining company’s stock after selling 187,875 shares during the period. Hodges Capital Management Inc.’s holdings in Cleveland-Cliffs were worth $1,196,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CLF. Prudential Financial Inc. increased its position in shares of Cleveland-Cliffs by 8.9% during the second quarter. Prudential Financial Inc. now owns 30,622 shares of the mining company’s stock valued at $212,000 after acquiring an additional 2,490 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Cleveland-Cliffs by 1.7% during the second quarter. Teachers Advisors LLC now owns 542,655 shares of the mining company’s stock valued at $3,755,000 after acquiring an additional 9,316 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Cleveland-Cliffs by 201.8% during the second quarter. Ameriprise Financial Inc. now owns 104,656 shares of the mining company’s stock valued at $724,000 after acquiring an additional 69,979 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Cleveland-Cliffs by 19.8% during the second quarter. Nationwide Fund Advisors now owns 341,299 shares of the mining company’s stock valued at $2,362,000 after acquiring an additional 56,526 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Cleveland-Cliffs by 1.6% during the second quarter. BlackRock Inc. now owns 18,860,269 shares of the mining company’s stock valued at $130,512,000 after acquiring an additional 306,081 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Cleveland-Cliffs Inc (NYSE:CLF) opened at $6.62 on Friday. The company has a quick ratio of 2.80, a current ratio of 3.42 and a debt-to-equity ratio of -5.28. The firm has a market cap of $1,960.00, a P/E ratio of 5.09 and a beta of 1.58. Cleveland-Cliffs Inc has a twelve month low of $5.56 and a twelve month high of $12.37.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Thursday, January 25th. The mining company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.11. The firm had revenue of $600.90 million during the quarter, compared to analysts’ expectations of $612.50 million. Cleveland-Cliffs had a net margin of 16.09% and a negative return on equity of 35.92%. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 earnings per share. research analysts expect that Cleveland-Cliffs Inc will post 1.02 EPS for the current fiscal year.

A number of brokerages have weighed in on CLF. Vertical Group began coverage on shares of Cleveland-Cliffs in a research report on Friday, January 19th. They set a “sell” rating for the company. Zacks Investment Research cut shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. B. Riley reiterated a “buy” rating and set a $11.00 price target (up from $10.00) on shares of Cleveland-Cliffs in a research report on Friday, January 5th. Cowen reiterated a “market perform” rating and set a $9.00 price target (up from $7.00) on shares of Cleveland-Cliffs in a research report on Friday, January 26th. Finally, FBR & Co reiterated a “buy” rating and set a $10.00 price target on shares of Cleveland-Cliffs in a research report on Friday, October 20th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $9.63.

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About Cleveland-Cliffs

Cleveland-Cliffs Inc, formerly Cliffs Natural Resources Inc, is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore.

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Institutional Ownership by Quarter for Cleveland-Cliffs (NYSE:CLF)

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