Cleveland-Cliffs Inc. (NYSE:CLF) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,247,426 shares of the mining company's stock after purchasing an additional 647,282 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.30% of Cleveland-Cliffs worth $199,724,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CLF. Norges Bank acquired a new position in Cleveland-Cliffs in the 4th quarter valued at about $45,381,000. Vanguard Group Inc. lifted its position in Cleveland-Cliffs by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company's stock worth $458,267,000 after acquiring an additional 2,556,332 shares during the period. Barclays PLC grew its stake in shares of Cleveland-Cliffs by 232.4% in the 3rd quarter. Barclays PLC now owns 3,113,337 shares of the mining company's stock valued at $39,757,000 after purchasing an additional 2,176,837 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Cleveland-Cliffs by 135.4% in the fourth quarter. American Century Companies Inc. now owns 3,615,774 shares of the mining company's stock valued at $33,988,000 after purchasing an additional 2,079,589 shares during the period. Finally, Stonegate Investment Group LLC purchased a new stake in shares of Cleveland-Cliffs during the fourth quarter worth approximately $18,999,000. 67.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on CLF. B. Riley reissued a "buy" rating and issued a $17.00 price objective (down from $20.00) on shares of Cleveland-Cliffs in a research note on Wednesday. The Goldman Sachs Group dropped their price target on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley reduced their price objective on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. Finally, Glj Research dropped their target price on Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $15.49.

Insider Transactions at Cleveland-Cliffs

In other news, Director John T. Baldwin purchased 4,000 shares of the firm's stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $8.70 per share, with a total value of $34,800.00. Following the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jane M. Cronin acquired 10,000 shares of Cleveland-Cliffs stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $10.56 per share, for a total transaction of $105,600.00. Following the purchase, the director now directly owns 24,522 shares of the company's stock, valued at approximately $258,952.32. This trade represents a 68.86 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 23,500 shares of company stock valued at $243,095 over the last three months. 1.76% of the stock is currently owned by insiders.

Cleveland-Cliffs Price Performance

Shares of NYSE:CLF traded down $0.01 during midday trading on Friday, hitting $7.90. 13,650,951 shares of the stock were exchanged, compared to its average volume of 14,289,549. Cleveland-Cliffs Inc. has a twelve month low of $6.17 and a twelve month high of $18.41. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average price of $8.98 and a 200-day moving average price of $10.53. The stock has a market cap of $3.91 billion, a P/E ratio of -8.14 and a beta of 1.93.

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

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.