KCM Investment Advisors LLC Has $156,000 Position in Cleveland-Cliffs Inc. (NYSE:CLF)

KCM Investment Advisors LLC lessened its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 11.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 16,554 shares of the mining company’s stock after selling 2,056 shares during the quarter. KCM Investment Advisors LLC’s holdings in Cleveland-Cliffs were worth $156,000 at the end of the most recent reporting period.

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

Insider Activity at Cleveland-Cliffs

In other Cleveland-Cliffs news, Director John T. Baldwin bought 4,000 shares of Cleveland-Cliffs stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average cost of $8.70 per share, for a total transaction of $34,800.00. Following the completion of the transaction, the director now directly owns 133,227 shares in the company, valued at $1,159,074.90. This represents a 3.10 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jane M. Cronin bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $10.56 per share, with a total value of $105,600.00. Following the completion of the transaction, the director now directly owns 24,522 shares of the company’s stock, valued at $258,952.32. This represents a 68.86 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 23,500 shares of company stock valued at $243,095. 1.76% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on CLF shares. Morgan Stanley reduced their price target on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Glj Research cut their target price on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating on the stock in a research note on Thursday, February 27th. B. Riley reissued a “buy” rating on shares of Cleveland-Cliffs in a research report on Tuesday, February 4th. The Goldman Sachs Group dropped their target price on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, Citigroup reduced their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $16.43.

Cleveland-Cliffs Trading Down 4.8 %

NYSE:CLF opened at $6.91 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85. The firm has a market cap of $3.42 billion, a P/E ratio of -7.13 and a beta of 1.94. The firm’s fifty day moving average is $10.04 and its 200-day moving average is $11.08. Cleveland-Cliffs Inc. has a 52 week low of $6.17 and a 52 week high of $22.67.

Cleveland-Cliffs (NYSE:CLF) 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). The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.46 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. Equities analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current 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.