Murphy Pohlad Asset Management LLC lifted its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF – Free Report) by 29.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 134,115 shares of the mining company’s stock after purchasing an additional 30,300 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Cleveland-Cliffs were worth $1,713,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Altshuler Shaham Ltd acquired a new position in Cleveland-Cliffs in the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its holdings in Cleveland-Cliffs by 247.8% in the first quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock valued at $43,000 after buying an additional 1,343 shares during the period. LRI Investments LLC acquired a new position in Cleveland-Cliffs in the first quarter valued at approximately $45,000. Hobbs Group Advisors LLC acquired a new position in Cleveland-Cliffs in the second quarter valued at approximately $31,000. Finally, Gradient Investments LLC lifted its holdings in Cleveland-Cliffs by 138.8% in the second quarter. Gradient Investments LLC now owns 2,149 shares of the mining company’s stock valued at $33,000 after buying an additional 1,249 shares during the period. 67.68% of the stock is currently owned by institutional investors and hedge funds.
Cleveland-Cliffs Stock Up 2.2 %
Shares of CLF stock opened at $13.26 on Friday. The firm has a fifty day moving average of $12.68 and a 200-day moving average of $14.85. The company has a quick ratio of 0.60, a current ratio of 1.87 and a debt-to-equity ratio of 0.48. Cleveland-Cliffs Inc. has a 12-month low of $10.21 and a 12-month high of $22.97. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 189.46 and a beta of 1.98.
Analysts Set New Price Targets
View Our Latest Analysis on CLF
Cleveland-Cliffs 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.
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