Sigma Planning Corp lessened its position in shares of Cleveland-Cliffs Inc (NYSE:CLF) by 50.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,104 shares of the mining company’s stock after selling 14,100 shares during the quarter. Sigma Planning Corp’s holdings in Cleveland-Cliffs were worth $102,000 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 the business. State Street Corp grew its holdings in Cleveland-Cliffs by 6.5% during the 2nd quarter. State Street Corp now owns 10,720,937 shares of the mining company’s stock valued at $74,189,000 after buying an additional 653,261 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Cleveland-Cliffs by 20.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,297,769 shares of the mining company’s stock valued at $43,581,000 after buying an additional 1,056,056 shares in the last quarter. California Public Employees Retirement System grew its holdings in Cleveland-Cliffs by 10.4% during the 4th quarter. California Public Employees Retirement System now owns 1,864,984 shares of the mining company’s stock valued at $13,447,000 after buying an additional 175,516 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Cleveland-Cliffs by 8.2% during 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 buying an additional 128,419 shares in the last quarter. Finally, Creative Planning grew its holdings in Cleveland-Cliffs by 38.8% during the 4th quarter. Creative Planning now owns 1,219,824 shares of the mining company’s stock valued at $8,795,000 after buying an additional 341,254 shares in the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.
Several equities analysts have weighed in on the company. B. Riley restated a “buy” rating and set a $11.00 price target (up previously from $10.00) on shares of Cleveland-Cliffs in a report on Friday, January 5th. Credit Suisse Group upgraded Cleveland-Cliffs from an “underperform” rating to an “outperform” rating in a report on Wednesday, February 7th. Zacks Investment Research cut Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. ValuEngine cut Cleveland-Cliffs from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Vertical Group assumed coverage on Cleveland-Cliffs in a report on Friday, January 19th. They set a “sell” rating for the company. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Cleveland-Cliffs presently has a consensus rating of “Hold” and an average target price of $9.63.
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 Zacks’ consensus estimate of $0.15 by $0.11. The firm had revenue of $600.90 million during the quarter, compared to analysts’ expectations of $612.50 million. Cleveland-Cliffs had a negative return on equity of 35.81% and a net margin of 16.09%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. research analysts forecast that Cleveland-Cliffs Inc will post 1.04 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: “Cleveland-Cliffs Inc (CLF) Shares Sold by Sigma Planning Corp” was originally published by Community Financial News and is the property of of Community Financial News. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.com-unik.info/2018/02/19/cleveland-cliffs-inc-clf-shares-sold-by-sigma-planning-corp.html.
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.
Want to see what other hedge funds are holding CLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cleveland-Cliffs Inc (NYSE:CLF).
Receive News & Ratings for Cleveland-Cliffs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cleveland-Cliffs and related companies with MarketBeat.com's FREE daily email newsletter.