Cleveland-Cliffs Inc (CLF) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its holdings in Cleveland-Cliffs Inc (NYSE:CLF) by 315.6% during the fourth quarter, HoldingsChannel reports. The firm owned 96,095 shares of the mining company’s stock after acquiring an additional 72,972 shares during the quarter. Teacher Retirement System of Texas’ holdings in Cleveland-Cliffs were worth $693,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Schwab Charles Investment Management Inc. boosted its holdings in shares of Cleveland-Cliffs by 8.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,692,922 shares of the mining company’s stock valued at $12,206,000 after purchasing an additional 128,419 shares in the last quarter. Creative Planning boosted its holdings in shares of Cleveland-Cliffs by 38.8% in the 4th quarter. Creative Planning now owns 1,219,824 shares of the mining company’s stock valued at $8,795,000 after purchasing an additional 341,254 shares in the last quarter. James Investment Research Inc. boosted its holdings in shares of Cleveland-Cliffs by 27.9% in the 4th quarter. James Investment Research Inc. now owns 786,838 shares of the mining company’s stock valued at $5,673,000 after purchasing an additional 171,817 shares in the last quarter. APG Asset Management N.V. acquired a new stake in shares of Cleveland-Cliffs in the 4th quarter valued at $4,002,000. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Cleveland-Cliffs by 7.9% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 571,695 shares of the mining company’s stock valued at $4,122,000 after purchasing an additional 42,100 shares in the last quarter. 60.33% of the stock is currently owned by hedge funds and other institutional investors.

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Several research firms recently weighed in on CLF. ValuEngine raised Cleveland-Cliffs from a “hold” rating to a “buy” rating in a report on Wednesday. B. Riley reissued a “buy” rating and set a $12.00 price objective (up previously from $11.00) on shares of Cleveland-Cliffs in a report on Friday, March 2nd. Vertical Group raised Cleveland-Cliffs from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Credit Suisse Group raised Cleveland-Cliffs from an “underperform” rating to an “outperform” rating in a report on Wednesday, February 7th. Finally, Cowen reissued a “market perform” rating and set a $9.00 price objective (up previously from $7.00) on shares of Cleveland-Cliffs in a report on Friday, January 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Cleveland-Cliffs currently has a consensus rating of “Hold” and a consensus price target of $9.79.

In other Cleveland-Cliffs news, Director Susan Miranda Green sold 11,305 shares of Cleveland-Cliffs stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $7.62, for a total transaction of $86,144.10. Following the transaction, the director now directly owns 60,367 shares of the company’s stock, valued at approximately $459,996.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by insiders.

Shares of Cleveland-Cliffs Inc (CLF) opened at $7.43 on Friday. The firm has a market capitalization of $2,254.30, a price-to-earnings ratio of 9.84 and a beta of 1.48. Cleveland-Cliffs Inc has a twelve month low of $5.56 and a twelve month high of $9.92. The company has a current ratio of 3.42, a quick ratio of 2.80 and a debt-to-equity ratio of -5.19.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Thursday, January 25th. The mining company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.11. The firm had revenue of $600.90 million for the quarter, compared to the consensus estimate of $612.50 million. Cleveland-Cliffs had a negative return on equity of 35.81% and a net margin of 16.09%. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. research analysts forecast that Cleveland-Cliffs Inc will post 1.11 earnings per share for the current year.

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About Cleveland-Cliffs

Cleveland-Cliffs Inc, formerly Cliffs Natural Resources Inc, is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore.

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Institutional Ownership by Quarter for Cleveland-Cliffs (NYSE:CLF)

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