Douglas Taylor, Director at Cleveland-Cliffs (NYSE:CLF), disclosed an insider sell on June 13, according to a recent SEC filing.
What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Thursday showed that Taylor sold 36,000 shares of Cleveland-Cliffs. The total transaction amounted to $535,222.
Cleveland-Cliffs's shares are actively trading at $14.6, experiencing a down of 1.78% during Friday's morning session.
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.
Cleveland-Cliffs's Financial Performance
Decline in Revenue: Over the 3 months period, Cleveland-Cliffs faced challenges, resulting in a ...