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|STLD Makes Bullish Cross Above Critical Moving Average
Tuesday, March 18, 4:28 PM ET, by Market News Video Staff
In trading on Tuesday, shares of Steel Dynamics Inc. (STLD) crossed above their 200 day ...
Kodiak Oil & Gas Corp Larger Than S&P 500 Component Cliffs Natural Resources, Inc.
Wednesday, March 19, 4:36 PM ET, by Market News Video Staff
In the latest look at stocks ordered by largest market capitalization, Russell 3000 component Kodiak ...
Lumber Liquidators Holdings Inc Larger Than S&P 500 Component Cliffs Natural Resources, Inc.
Wednesday, March 19, 4:38 PM ET, by Market News Video Staff
In the latest look at stocks ordered by largest market capitalization, Russell 3000 component Lumber ...
Science Applications International Corp Larger Than S&P 500 Component Cliffs Natural Resources, Inc.
Thursday, March 20, 4:37 PM ET, by Market News Video Staff
In the latest look at stocks ordered by largest market capitalization, Russell 3000 component Science ...
Clovis Oncology Inc Larger Than S&P 500 Component Cliffs Natural Resources, Inc.
Thursday, March 20, 4:38 PM ET, by Market News Video Staff
In the latest look at stocks ordered by largest market capitalization, Russell 3000 component Clovis ...
Top 10th Percentile Ranked Dividend Stock CLF Enters Oversold Territory
By Dividend Channel Staff, Wednesday, February 13, 11:31 AM ET
The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two important characteristics — strong fundamentals and a valuation that looks inexpensive. Cliffs Natural Resources, Inc. (NYSE:CLF) presently has a stellar rank, in the top 10% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors.
But making Cliffs Natural Resources, Inc. an even more interesting and timely stock to look at, is the fact that in trading on Wednesday, shares of CLF entered into oversold territory, changing hands as low as $29.33 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In the case of Cliffs Natural Resources, Inc., the RSI reading has hit 26.1 — by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 62.7. A falling stock price — all else being equal — creates a better opportunity for dividend investors to capture a higher yield. Indeed, CLF's recent annualized dividend of 2.50/share (currently paid in quarterly installments) works out to an annual yield of 6.83% based upon the recent $36.61 share price.
A bullish investor could look at CLF's 26.1 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on CLF is its dividend history.
In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.
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According to the ETF Finder at ETF Channel, CLF makes up 3.67% of the Steel ETF (AMEX:SLX) which is trading lower by about 0.2% on the day Wednesday.
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