Twin Capital Management Inc. Buys 20,484 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Twin Capital Management Inc. lifted its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 57.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,369 shares of the mining company’s stock after acquiring an additional 20,484 shares during the period. Twin Capital Management Inc.’s holdings in Cleveland-Cliffs were worth $1,151,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Stonebridge Capital Advisors LLC raised its stake in shares of Cleveland-Cliffs by 20.0% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 3,600 shares of the mining company’s stock valued at $58,000 after acquiring an additional 600 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of Cleveland-Cliffs by 2.3% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 27,337 shares of the mining company’s stock valued at $427,000 after acquiring an additional 609 shares in the last quarter. Allworth Financial LP increased its position in Cleveland-Cliffs by 50.3% in the 4th quarter. Allworth Financial LP now owns 1,850 shares of the mining company’s stock worth $38,000 after buying an additional 619 shares during the period. Cibc World Market Inc. increased its position in Cleveland-Cliffs by 1.1% in the 1st quarter. Cibc World Market Inc. now owns 58,149 shares of the mining company’s stock worth $1,873,000 after buying an additional 623 shares during the period. Finally, Stratos Wealth Partners LTD. increased its position in Cleveland-Cliffs by 0.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 103,397 shares of the mining company’s stock worth $1,616,000 after buying an additional 674 shares during the period. 67.68% of the stock is owned by institutional investors.

Cleveland-Cliffs Price Performance

Shares of NYSE:CLF opened at $20.83 on Friday. Cleveland-Cliffs Inc. has a 1-year low of $13.61 and a 1-year high of $22.97. The firm has a market capitalization of $9.90 billion, a PE ratio of 27.05, a PEG ratio of 0.75 and a beta of 2.03. The business’s 50 day moving average is $20.93 and its 200-day moving average is $18.85. The company has a current ratio of 1.89, a quick ratio of 0.62 and a debt-to-equity ratio of 0.39.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings results on Tuesday, January 30th. The mining company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.16 billion. Cleveland-Cliffs had a return on equity of 6.79% and a net margin of 1.81%. Cleveland-Cliffs’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.30) EPS. Sell-side analysts predict that Cleveland-Cliffs Inc. will post 1.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Citigroup downgraded Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 price target on the stock. in a research report on Wednesday, March 13th. Argus downgraded Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. BNP Paribas downgraded Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 price target on the stock. in a research report on Wednesday, February 28th. TheStreet downgraded Cleveland-Cliffs from a “b-” rating to a “c” rating in a research report on Tuesday, January 30th. Finally, StockNews.com raised Cleveland-Cliffs from a “hold” rating to a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Cleveland-Cliffs presently has a consensus rating of “Hold” and a consensus target price of $19.92.

Insider Activity at Cleveland-Cliffs

In related news, Director Arlene M. Yocum purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $20.02 per share, with a total value of $40,040.00. Following the purchase, the director now directly owns 94,887 shares in the company, valued at $1,899,637.74. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cleveland-Cliffs news, EVP Terry G. Fedor sold 27,430 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total value of $553,811.70. Following the transaction, the executive vice president now owns 534,617 shares of the company’s stock, valued at $10,793,917.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Arlene M. Yocum acquired 2,000 shares of Cleveland-Cliffs stock in a transaction on Wednesday, March 6th. The stock was acquired at an average cost of $20.02 per share, for a total transaction of $40,040.00. Following the purchase, the director now owns 94,887 shares of the company’s stock, valued at approximately $1,899,637.74. The disclosure for this purchase can be found here. Insiders have sold a total of 221,066 shares of company stock valued at $4,464,688 in the last 90 days. 1.76% of the stock is owned by corporate insiders.

About Cleveland-Cliffs

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.