Entropy Technologies LP Purchases 155,693 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Entropy Technologies LP boosted its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 955.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 171,993 shares of the mining company’s stock after purchasing an additional 155,693 shares during the period. Entropy Technologies LP’s holdings in Cleveland-Cliffs were worth $1,617,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CLF. Strengthening Families & Communities LLC grew its holdings in shares of Cleveland-Cliffs by 299.8% in the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after acquiring an additional 1,490 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Cleveland-Cliffs in the 3rd quarter valued at $34,000. Truvestments Capital LLC purchased a new stake in shares of Cleveland-Cliffs during the 3rd quarter valued at $34,000. Byrne Asset Management LLC raised its stake in shares of Cleveland-Cliffs by 130.0% during the 4th quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company’s stock worth $43,000 after purchasing an additional 2,600 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Cleveland-Cliffs by 231.9% in the 3rd quarter. Blue Trust Inc. now owns 3,634 shares of the mining company’s stock worth $46,000 after buying an additional 2,539 shares during the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Morgan Stanley lowered their price objective on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. The Goldman Sachs Group started coverage on shares of Cleveland-Cliffs in a report on Monday, December 2nd. They issued a “buy” rating and a $16.00 price target on the stock. Glj Research raised Cleveland-Cliffs from a “sell” rating to a “buy” rating and set a $14.27 target price for the company in a research report on Tuesday, January 7th. StockNews.com cut Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, Citigroup cut their price target on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Three analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $16.68.

Cleveland-Cliffs Stock Down 5.8 %

Shares of NYSE CLF opened at $10.05 on Monday. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The company has a market cap of $4.96 billion, a P/E ratio of -10.36 and a beta of 1.96. Cleveland-Cliffs Inc. has a 52 week low of $8.99 and a 52 week high of $22.97. The business has a 50-day simple moving average of $10.30 and a two-hundred day simple moving average of $11.92.

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.