Thrivent Financial for Lutherans Purchases 3,940 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Thrivent Financial for Lutherans boosted its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,897 shares of the mining company’s stock after purchasing an additional 3,940 shares during the period. Thrivent Financial for Lutherans’ holdings in Cleveland-Cliffs were worth $1,071,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC grew 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 buying an additional 2,176,837 shares during the last quarter. Stonegate Investment Group LLC purchased a new position in Cleveland-Cliffs during the 4th quarter valued at $18,999,000. Bank of New York Mellon Corp grew its position in Cleveland-Cliffs by 20.1% in the 4th 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. Raymond James Financial Inc. purchased a new stake in Cleveland-Cliffs in the fourth quarter worth $7,835,000. Finally, Ninety One UK Ltd lifted its position in shares of Cleveland-Cliffs by 121.5% during the fourth quarter. Ninety One UK Ltd now owns 1,501,297 shares of the mining company’s stock worth $14,112,000 after purchasing an additional 823,562 shares during the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cleveland-Cliffs

In other Cleveland-Cliffs news, EVP Keith Koci acquired 9,500 shares of the stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $10.81 per share, with a total value of $102,695.00. Following the transaction, the executive vice president now directly owns 543,475 shares of the company’s stock, valued at $5,874,964.75. This trade represents a 1.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jane M. Cronin bought 10,000 shares of Cleveland-Cliffs stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $10.56 per share, for a total transaction of $105,600.00. Following the completion of the transaction, the director now directly owns 24,522 shares in the company, valued at $258,952.32. This represents a 68.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 23,500 shares of company stock valued at $243,095 in the last 90 days. Insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. 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 note on Monday, February 3rd. Citigroup reduced their target price on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. The Goldman Sachs Group lowered their price target on Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. B. Riley restated a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. Finally, Glj Research lowered their target price on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating for the company in a report on Thursday, February 27th. Two research 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. According to data from MarketBeat.com, Cleveland-Cliffs currently has an average rating of “Hold” and an average target price of $16.43.

Cleveland-Cliffs Stock Down 3.1 %

Shares of NYSE CLF opened at $8.26 on Tuesday. Cleveland-Cliffs Inc. has a 12-month low of $7.91 and a 12-month high of $22.97. The stock’s fifty day simple moving average is $10.22 and its two-hundred day simple moving average is $11.19. The stock has a market capitalization of $4.08 billion, a PE ratio of -8.51 and a beta of 1.94. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53.

Cleveland-Cliffs (NYSE:CLF) last posted its 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 company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. As a group, analysts expect that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal 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.