Cerity Partners LLC Buys 100,445 Shares of Cleveland
Cerity Partners LLC boosted its stake in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 46.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 317,567 shares of the mining company's stock after purchasing an additional 100,445 shares during the quarter. Cerity Partners LLC owned approximately 0.06% of Cleveland-Cliffs worth $5,819,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Cleveland-Cliffs by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 45,757,539 shares of the mining company's stock worth $616,355,000 after purchasing an additional 387,794 shares during the period. State Street Corp boosted its position in shares of Cleveland-Cliffs by 18.6% during the 2nd quarter. State Street Corp now owns 21,000,065 shares of the mining company's stock valued at $322,771,000 after acquiring an additional 3,295,448 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Cleveland-Cliffs by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 7,325,630 shares of the mining company's stock valued at $117,877,000 after acquiring an additional 211,682 shares during the last quarter. Morgan Stanley boosted its position in shares of Cleveland-Cliffs by 1.5% during the 4th quarter. Morgan Stanley now owns 6,855,860 shares of the mining company's stock valued at $110,448,000 after acquiring an additional 98,117 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Cleveland-Cliffs by 7.3% during the 4th quarter. Deutsche Bank AG now owns 3,983,522 shares of the mining company's stock valued at $64,175,000 after acquiring an additional 271,491 shares during the last quarter. Institutional investors own 60.97% of the company's stock.
Cleveland-Cliffs stock opened at $14.69 on Tuesday. The company has a current ratio of 2.10, a quick ratio of 0.72 and a debt-to-equity ratio of 0.49. The business's fifty day simple moving average is $16.22 and its two-hundred day simple moving average is $16.92. Cleveland-Cliffs Inc. has a 12 month low of $11.82 and a 12 month high of $22.83. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of 33.39 and a beta of 2.20.
Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its earnings results on Monday, July 24th. The mining company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). Cleveland-Cliffs had a return on equity of 3.77% and a net margin of 1.04%. The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period last year, the firm posted $1.31 earnings per share. The company's revenue was down 5.6% compared to the same quarter last year. As a group, equities analysts predict that Cleveland-Cliffs Inc. will post 1.42 earnings per share for the current fiscal year.
CLF has been the subject of a number of recent research reports. StockNews.com initiated coverage on Cleveland-Cliffs in a research report on Thursday, August 17th. They issued a "hold" rating for the company. B. Riley dropped their target price on Cleveland-Cliffs from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Tuesday, August 1st. Finally, JPMorgan Chase & Co. started coverage on Cleveland-Cliffs in a research report on Tuesday, May 23rd. They issued a "neutral" rating and a $18.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Cleveland-Cliffs presently has a consensus rating of "Hold" and a consensus target price of $20.53.
View Our Latest Stock Analysis on 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.
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