Janney Montgomery Scott LLC reduced its position in shares of Vale S.A. (NYSE:VALE – Free Report) by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,855 shares of the basic materials company’s stock after selling 3,713 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Vale were worth $697,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Vale by 28.8% in the 4th quarter. FMR LLC now owns 47,163,226 shares of the basic materials company’s stock valued at $418,338,000 after purchasing an additional 10,557,888 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Vale by 20.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 33,995,398 shares of the basic materials company’s stock worth $301,541,000 after purchasing an additional 5,775,590 shares during the period. Lazard Asset Management LLC increased its position in Vale by 49.3% during the fourth quarter. Lazard Asset Management LLC now owns 18,238,313 shares of the basic materials company’s stock worth $161,773,000 after buying an additional 6,023,144 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Vale by 328.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 17,349,581 shares of the basic materials company’s stock valued at $153,891,000 after buying an additional 13,298,912 shares during the period. Finally, Mondrian Investment Partners LTD raised its stake in Vale by 13.3% in the fourth quarter. Mondrian Investment Partners LTD now owns 11,754,809 shares of the basic materials company’s stock valued at $109,202,000 after buying an additional 1,381,475 shares during the period. Institutional investors and hedge funds own 21.85% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on VALE shares. Royal Bank Of Canada reissued a “sector perform” rating and set a $11.00 target price (down from $12.00) on shares of Vale in a report on Thursday, April 17th. CICC Research assumed coverage on shares of Vale in a research report on Monday, May 12th. They set an “outperform” rating and a $11.30 price objective for the company. Wall Street Zen began coverage on shares of Vale in a report on Wednesday, May 7th. They issued a “hold” rating on the stock. UBS Group dropped their price objective on shares of Vale from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Finally, Bank of America raised shares of Vale from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $11.50 in a report on Thursday, April 10th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.04.
Vale Trading Up 1.2%
Shares of Vale stock opened at $9.83 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.74 and a current ratio of 1.11. The firm has a 50-day moving average of $9.49 and a 200-day moving average of $9.37. Vale S.A. has a 52-week low of $8.06 and a 52-week high of $12.05. The stock has a market cap of $44.62 billion, a PE ratio of 7.12, a PEG ratio of 0.30 and a beta of 0.77.
Vale (NYSE:VALE – Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Vale had a net margin of 15.54% and a return on equity of 17.65%. The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.39 billion. As a group, sell-side analysts forecast that Vale S.A. will post 1.85 EPS for the current year.
Vale Company Profile
Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pellets for use as raw materials in steelmaking in Brazil and internationally. The company operates through Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.
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