Envestnet Asset Management Inc. Has $9.01 Million Stock Position in Vale S.A. (NYSE:VALE)

Envestnet Asset Management Inc. grew its stake in Vale S.A. (NYSE:VALE) by 21.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 902,300 shares of the basic materials company’s stock after buying an additional 158,194 shares during the period. Envestnet Asset Management Inc.’s holdings in Vale were worth $9,005,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership grew its position in Vale by 328.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 17,349,581 shares of the basic materials company’s stock worth $153,891,000 after buying an additional 13,298,912 shares in the last quarter. FMR LLC boosted 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 worth $418,338,000 after acquiring an additional 10,557,888 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Vale by 49.3% in the 4th quarter. Lazard Asset Management LLC now owns 18,238,313 shares of the basic materials company’s stock worth $161,773,000 after acquiring an additional 6,023,144 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Vale by 20.5% in the 4th 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 acquiring an additional 5,775,590 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in Vale by 6,547.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 4,782,424 shares of the basic materials company’s stock valued at $42,420,000 after buying an additional 4,710,481 shares during the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Wall Street Analyst Weigh In

VALE has been the topic of several recent research reports. CICC Research initiated coverage on Vale in a research note on Monday, May 12th. They issued an “outperform” rating and a $11.30 price target on the stock. UBS Group decreased their price objective on Vale from $10.50 to $9.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Wall Street Zen assumed coverage on Vale in a report on Wednesday, May 7th. They issued a “hold” rating for the company. Barclays lifted their price target on Vale from $12.75 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, July 2nd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $11.00 price target (down previously from $12.00) on shares of Vale in a report on Thursday, April 17th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $11.79.

Vale Stock Up 3.5%

Shares of NYSE:VALE opened at $10.12 on Tuesday. Vale S.A. has a 52-week low of $8.06 and a 52-week high of $12.05. The firm has a fifty day moving average of $9.63 and a 200 day moving average of $9.47. The firm has a market capitalization of $45.91 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 0.32 and a beta of 0.77. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.74 and a current ratio of 1.11.

Vale (NYSE:VALE) last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.39 billion. Vale had a return on equity of 17.65% and a net margin of 15.54%. As a group, research analysts anticipate that Vale S.A. will post 1.85 EPS for the current fiscal year.

Vale 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.