Potential Cleveland-Cliffs Inc. (NYSE:CLF) shareholders may wish to note that the Executive VP & CFO, Keith Koci, recently bought US$104k worth of stock, paying US$8.11 for each share. That's a very decent purchase to our minds and it grew their holding by a solid 21%.
The Last 12 Months Of Insider Transactions At Cleveland-Cliffs
Notably, that recent purchase by Executive VP & CFO Keith Koci was not the only time they bought Cleveland-Cliffs shares this year. Earlier in the year, they paid US$8.39 per share in a US$252k purchase. That implies that an insider found the current price of US$8.55 per share to be enticing. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. In this case we're pleased to report that the insider purchases were made at close to current prices.
Over the last year, we can see that insiders have bought 143811 shares worth US$1.3m. On the other hand they divested 12700 shares, for US$128k. In the last twelve months there was more buying than selling by Cleveland-Cliffs insiders. The chart below shows insider transactions (by individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Insider Ownership of Cleveland-Cliffs
Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. Cleveland-Cliffs insiders own about US$36m worth of shares. That equates to 1.6% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
So What Do The Cleveland-Cliffs Insider Transactions Indicate?
The recent insider purchases are heartening. And the longer term insider transactions also give us confidence. Given that insiders also own a fair bit of Cleveland-Cliffs we think they are probably pretty confident of a bright future. Of course, the future is what matters most. So if you are interested in Cleveland-Cliffs, you should check out this free report on analyst forecasts for the company.
But note: Cleveland-Cliffs may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
If you spot an error that warrants correction, please contact the editor at email@example.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Thank you for reading.