Hickory Point Bank & Trust Takes $168,000 Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Hickory Point Bank & Trust purchased a new stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) in the 4th quarter, Holdings Channel.com reports. The fund purchased 17,900 shares of the mining company’s stock, valued at approximately $168,000.

Several other large investors have also recently modified their holdings of the business. Pacer Advisors Inc. raised its stake in shares of Cleveland-Cliffs by 13.7% during the third quarter. Pacer Advisors Inc. now owns 25,893,879 shares of the mining company’s stock valued at $330,665,000 after acquiring an additional 3,110,651 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Cleveland-Cliffs by 20.1% during the fourth quarter. Bank of New York Mellon Corp now owns 7,382,769 shares of the mining company’s stock valued at $69,398,000 after acquiring an additional 1,236,247 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Cleveland-Cliffs by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,751,153 shares of the mining company’s stock valued at $47,902,000 after acquiring an additional 121,389 shares during the last quarter. Hodges Capital Management Inc. raised its stake in shares of Cleveland-Cliffs by 13.4% during the fourth quarter. Hodges Capital Management Inc. now owns 3,316,786 shares of the mining company’s stock valued at $31,178,000 after acquiring an additional 391,109 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Cleveland-Cliffs by 232.4% during the third quarter. Barclays PLC now owns 3,113,337 shares of the mining company’s stock valued at $39,757,000 after acquiring an additional 2,176,837 shares during the last quarter. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Up 0.9 %

NYSE:CLF opened at $10.83 on Friday. 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 stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of -11.16 and a beta of 1.96. The firm has a fifty day simple moving average of $10.34 and a two-hundred day simple moving average of $11.64. Cleveland-Cliffs Inc. has a 12 month low of $8.99 and a 12 month high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings data on Monday, February 24th. The mining company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.03). The business had revenue of $4.33 billion for 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%. Analysts expect that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

CLF has been the subject of a number of analyst reports. B. Riley reissued a “buy” rating on shares of Cleveland-Cliffs in a research note on Tuesday, February 4th. StockNews.com downgraded shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Citigroup lowered their target price on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Glj Research lowered their target price on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating for the company in a research note on Thursday. Finally, Morgan Stanley lowered their target price on shares of 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. Two investment 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’s stock. Based on data from MarketBeat.com, Cleveland-Cliffs presently has an average rating of “Hold” and an average target price of $16.54.

Insider Activity

In other Cleveland-Cliffs news, Director Jane M. Cronin acquired 10,000 shares of Cleveland-Cliffs stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $10.56 per share, for a total transaction of $105,600.00. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Keith Koci acquired 9,500 shares of Cleveland-Cliffs stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $10.81 per share, with a total value of $102,695.00. Following the completion of the acquisition, the executive vice president now directly 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.76% of the company’s stock.

Cleveland-Cliffs 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.