California Public Employees Retirement System Has $14.15 Million Stake in Cliffs Natural Resources Inc. (CLF)

California Public Employees Retirement System cut its stake in shares of Cliffs Natural Resources Inc. (NYSE:CLF) by 12.2% during the first quarter, Holdings Channel reports. The fund owned 1,723,500 shares of the mining company’s stock after selling 238,500 shares during the period. California Public Employees Retirement System’s holdings in Cliffs Natural Resources were worth $14,150,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Montgomery Investment Management Inc. raised its stake in Cliffs Natural Resources by 3.2% in the first quarter. Montgomery Investment Management Inc. now owns 48,800 shares of the mining company’s stock valued at $400,000 after buying an additional 1,500 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in Cliffs Natural Resources by 16.1% in the first quarter. Stratos Wealth Partners LTD. now owns 17,871 shares of the mining company’s stock valued at $147,000 after buying an additional 2,480 shares during the last quarter. Baird Financial Group Inc. raised its stake in Cliffs Natural Resources by 18.5% in the fourth quarter. Baird Financial Group Inc. now owns 16,853 shares of the mining company’s stock valued at $142,000 after buying an additional 2,630 shares during the last quarter. Sei Investments Co. raised its stake in Cliffs Natural Resources by 28.8% in the first quarter. Sei Investments Co. now owns 17,819 shares of the mining company’s stock valued at $146,000 after buying an additional 3,980 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in Cliffs Natural Resources by 19.1% in the first quarter. Prudential Financial Inc. now owns 28,132 shares of the mining company’s stock valued at $231,000 after buying an additional 4,510 shares during the last quarter. 66.73% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Cliffs Natural Resources (NYSE:CLF)

Shares of Cliffs Natural Resources Inc. (CLF) traded down 2.29% during midday trading on Tuesday, hitting $5.97. The stock had a trading volume of 2,250,031 shares. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 34.91 and a beta of 1.68. The firm’s 50 day moving average price is $6.19 and its 200 day moving average price is $8.35. Cliffs Natural Resources Inc. has a 52-week low of $4.55 and a 52-week high of $12.37.

Cliffs Natural Resources (NYSE:CLF) last released its quarterly earnings data on Thursday, April 27th. The mining company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.27. Cliffs Natural Resources had a net margin of 1.68% and a negative return on equity of 5.79%. The business had revenue of $461.60 million during the quarter, compared to analyst estimates of $412.71 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s revenue was up 51.1% on a year-over-year basis. On average, equities research analysts expect that Cliffs Natural Resources Inc. will post $0.96 earnings per share for the current year.

WARNING: “California Public Employees Retirement System Has $14.15 Million Stake in Cliffs Natural Resources Inc. (CLF)” was posted by Ticker Report and is the sole property of of Ticker Report. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The legal version of this piece can be viewed at https://www.tickerreport.com/banking-finance/2655503/california-public-employees-retirement-system-has-14-15-million-stake-in-cliffs-natural-resources-inc-clf.html.

Several research firms have recently issued reports on CLF. FBR & Co set a $10.00 price objective on Cliffs Natural Resources and gave the company a “buy” rating in a research note on Saturday. TheStreet lowered Cliffs Natural Resources from a “c” rating to a “d+” rating in a research note on Thursday, May 4th. Zacks Investment Research lowered Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, March 21st. ValuEngine raised Cliffs Natural Resources from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 11th. Finally, J P Morgan Chase & Co raised their price objective on Cliffs Natural Resources from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Monday, March 27th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $8.69.

In other news, Director John T. Baldwin purchased 6,000 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were bought at an average cost of $6.32 per share, for a total transaction of $37,920.00. Following the completion of the purchase, the director now directly owns 87,991 shares of the company’s stock, valued at $556,103.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Lourenco Goncalves purchased 200,000 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were purchased at an average price of $6.31 per share, for a total transaction of $1,262,000.00. Following the completion of the purchase, the chairman now directly owns 2,855,296 shares of the company’s stock, valued at $18,016,917.76. The disclosure for this purchase can be found here. Insiders purchased 215,250 shares of company stock worth $1,361,283 over the last quarter. 0.46% of the stock is currently owned by insiders.

About Cliffs Natural Resources

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. The Company is a producer of iron ore pellets, primarily selling production from U.S.

Want to see what other hedge funds are holding CLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cliffs Natural Resources Inc. (NYSE:CLF).

Receive News & Ratings for Cliffs Natural Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cliffs Natural Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
Shares at Radius Jump as Bone Drug of Amgen Has Setback
Shares at Radius Jump as Bone Drug of Amgen Has Setback


© 2006-2017 Ticker Report. Google+.