146,074 Shares in Cleveland-Cliffs Inc. (NYSE:CLF) Acquired by CenterBook Partners LP

CenterBook Partners LP acquired a new position in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 146,074 shares of the mining company's stock, valued at approximately $1,373,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pinpoint Asset Management Ltd purchased a new position in shares of Cleveland-Cliffs in the 4th quarter valued at approximately $25,000. Estabrook Capital Management lifted its position in Cleveland-Cliffs by 207.7% during the 4th quarter. Estabrook Capital Management now owns 4,000 shares of the mining company's stock worth $38,000 after acquiring an additional 2,700 shares during the period. Byrne Asset Management LLC raised its stake in shares of Cleveland-Cliffs by 130.0% in the fourth quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company's stock worth $43,000 after purchasing an additional 2,600 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in Cleveland-Cliffs during the 4th quarter valued at approximately $44,000. Finally, AllSquare Wealth Management LLC raised its stake in shares of Cleveland-Cliffs by 24.4% during the 4th quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company's stock valued at $48,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 67.68% of the company's stock.

Wall Street Analyst Weigh In

CLF has been the topic of a number of recent analyst reports. B. Riley reissued a "buy" rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. Morgan Stanley cut their price target 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. Citigroup lowered their price target on Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, December 19th. Glj Research reduced their target price 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. Finally, The Goldman Sachs Group cut their price target on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $16.24.

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Insider Activity at Cleveland-Cliffs

In other Cleveland-Cliffs news, EVP Keith Koci acquired 9,500 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was bought 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 owns 543,475 shares of the company's stock, valued at approximately $5,874,964.75. The trade was a 1.78 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John T. Baldwin bought 4,000 shares of Cleveland-Cliffs stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $8.70 per share, for a total transaction of $34,800.00. Following the transaction, the director now directly owns 133,227 shares of the company's stock, valued at approximately $1,159,074.90. This trade represents a 3.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 23,500 shares of company stock valued at $243,095. 1.76% of the stock is owned by company insiders.

Cleveland-Cliffs Price Performance

NYSE CLF traded down $0.05 during trading hours on Tuesday, hitting $7.32. 3,950,124 shares of the company's stock traded hands, compared to its average volume of 20,227,879. The company has a market capitalization of $3.62 billion, a PE ratio of -7.55 and a beta of 1.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. Cleveland-Cliffs Inc. has a 52-week low of $6.17 and a 52-week high of $21.79. The firm's 50-day moving average is $9.58 and its 200-day moving average is $10.81.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The mining company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.03). The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.46 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. Equities analysts forecast that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

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.