CLF - Insider Move: LOURENCO GONCALVES Invests $1.01M In Cleveland-Cliffs Stock | Benzinga
On May 1, LOURENCO GONCALVES, Chairman at Cleveland-Cliffs (NYSE:CLF) executed a significant insider buy, as disclosed in the latest SEC filing.
What Happened: GONCALVES's recent move, as outlined in a Form 4 filing with the U.S. Securities and Exchange Commission on Wednesday, involves purchasing 60,000 shares of Cleveland-Cliffs. The total transaction value is $1,005,665.
Tracking the Thursday's morning session, Cleveland-Cliffs shares are trading at $16.97, showing a up of 1.62%.
Delving into Cleveland-Cliffs's Background
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.
Key Indicators: Cleveland-Cliffs's Financial Health
Negative Revenue Trend: Examining Cleveland-Cliffs's financials ...