Free Trial

Amalgamated Bank Sells 73,027 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Cleveland-Cliffs logo with Basic Materials background

Amalgamated Bank trimmed its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 24.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 225,616 shares of the mining company's stock after selling 73,027 shares during the period. Amalgamated Bank's holdings in Cleveland-Cliffs were worth $2,881,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CLF. Quantbot Technologies LP acquired a new stake in shares of Cleveland-Cliffs during the 1st quarter valued at $575,000. Illinois Municipal Retirement Fund lifted its stake in shares of Cleveland-Cliffs by 28.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 82,584 shares of the mining company's stock valued at $1,878,000 after purchasing an additional 18,453 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Cleveland-Cliffs by 5.4% in the 1st quarter. Sei Investments Co. now owns 413,934 shares of the mining company's stock valued at $9,413,000 after purchasing an additional 21,262 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Cleveland-Cliffs by 82.2% in the 1st quarter. Russell Investments Group Ltd. now owns 392,842 shares of the mining company's stock valued at $8,932,000 after purchasing an additional 177,198 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its stake in shares of Cleveland-Cliffs by 43.0% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 715,000 shares of the mining company's stock valued at $16,259,000 after purchasing an additional 215,000 shares during the last quarter. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

Cleveland-Cliffs Stock Performance

Shares of NYSE:CLF traded down $0.35 on Monday, hitting $12.52. 14,126,520 shares of the company were exchanged, compared to its average volume of 10,227,298. The company's 50 day moving average price is $12.62 and its two-hundred day moving average price is $14.42. Cleveland-Cliffs Inc. has a one year low of $10.21 and a one year high of $22.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.60 and a current ratio of 1.85. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of -12.91 and a beta of 1.97.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.02). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The business's revenue for the quarter was down 18.5% compared to the same quarter last year. Research analysts expect that Cleveland-Cliffs Inc. will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CLF shares. Citigroup reduced their price objective on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a "neutral" rating for the company in a research note on Tuesday, September 10th. Morgan Stanley reduced their price objective on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an "equal weight" rating for the company in a research note on Wednesday, September 18th. StockNews.com lowered shares of Cleveland-Cliffs from a "hold" rating to a "sell" rating in a research note on Thursday. Finally, Seaport Res Ptn raised shares of Cleveland-Cliffs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 27th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cleveland-Cliffs currently has a consensus rating of "Hold" and a consensus target price of $17.56.

Get Our Latest Report on CLF

Cleveland-Cliffs Profile

(Free Report)

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.

Featured Stories

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

Should you invest $1,000 in Cleveland-Cliffs right now?

Before you consider Cleveland-Cliffs, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cleveland-Cliffs wasn't on the list.

While Cleveland-Cliffs currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Reduce the Risk Cover

Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Why Whitestone REIT is Outperforming in 2024: 35% Growth & Monthly Dividends
Why SoundHound Stock Dip Could Mean Big Gains for 2025 Investors
Nintendo Stock: Buy Before the 2025 Switch Platform Hits!

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines