Cleveland-Cliffs Inc. $CLF is Hodges Capital Management Inc.’s 4th Largest Position

Hodges Capital Management Inc. cut its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 5.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,300,253 shares of the mining company’s stock after selling 130,750 shares during the period. Cleveland-Cliffs accounts for approximately 2.6% of Hodges Capital Management Inc.’s holdings, making the stock its 4th biggest holding. Hodges Capital Management Inc.’s holdings in Cleveland-Cliffs were worth $30,547,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Cleveland-Cliffs during the 4th quarter valued at $25,000. IFP Advisors Inc boosted its position in Cleveland-Cliffs by 117.5% during the 4th quarter. IFP Advisors Inc now owns 2,221 shares of the mining company’s stock worth $29,000 after purchasing an additional 1,200 shares during the period. Larson Financial Group LLC boosted its position in Cleveland-Cliffs by 819.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,684 shares of the mining company’s stock worth $33,000 after purchasing an additional 2,392 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in Cleveland-Cliffs during the 4th quarter worth $44,000. Finally, Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna purchased a new stake in Cleveland-Cliffs during the 4th quarter worth $59,000. 67.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cleveland-Cliffs news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $13.41, for a total value of $2,873,870.28. Following the transaction, the executive vice president owned 184,542 shares in the company, valued at $2,474,708.22. The trade was a 53.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.95% of the stock is owned by corporate insiders.

Cleveland-Cliffs Stock Performance

Shares of CLF stock opened at $12.43 on Thursday. Cleveland-Cliffs Inc. has a 12 month low of $6.72 and a 12 month high of $16.70. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.02 and a quick ratio of 0.64. The firm has a market capitalization of $7.09 billion, a P/E ratio of -5.31 and a beta of 2.09. The company’s fifty day moving average price is $10.73 and its two-hundred day moving average price is $11.54.

Cleveland-Cliffs (NYSE:CLF) last issued its quarterly earnings data on Monday, April 20th. The mining company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.04. Cleveland-Cliffs had a negative net margin of 6.42% and a negative return on equity of 15.48%. The firm had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same quarter in the previous year, the business posted ($0.92) EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, research analysts anticipate that Cleveland-Cliffs Inc. will post -0.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CLF. KeyCorp began coverage on shares of Cleveland-Cliffs in a research report on Wednesday, March 25th. They set a “sector weight” rating for the company. Barclays began coverage on shares of Cleveland-Cliffs in a research report on Thursday, May 21st. They set an “underweight” rating and a $9.00 price target for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $10.00 price target on shares of Cleveland-Cliffs in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cleveland-Cliffs in a research report on Friday, April 24th. Finally, Argus raised shares of Cleveland-Cliffs to a “hold” rating in a research report on Monday, April 6th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $12.85.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.