Envestnet Asset Management Inc. Sells 23,219 Shares of Vale S.A. $VALE

Envestnet Asset Management Inc. lowered its position in Vale S.A. (NYSE:VALE) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 879,081 shares of the basic materials company’s stock after selling 23,219 shares during the period. Envestnet Asset Management Inc.’s holdings in Vale were worth $8,536,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Banque Transatlantique SA bought a new stake in shares of Vale in the first quarter worth about $30,000. GAMMA Investing LLC grew its position in shares of Vale by 98.4% in the 2nd quarter. GAMMA Investing LLC now owns 4,075 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 2,021 shares during the period. Thompson Investment Management Inc. acquired a new position in shares of Vale in the 2nd quarter valued at approximately $46,000. Westend Capital Management LLC bought a new stake in Vale during the 2nd quarter worth approximately $48,000. Finally, Capital Analysts LLC acquired a new stake in Vale during the 1st quarter worth approximately $51,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Analyst Ratings Changes

VALE has been the subject of several research analyst reports. Hsbc Global Res upgraded shares of Vale to a “strong-buy” rating in a report on Friday, October 17th. Wall Street Zen raised shares of Vale from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company increased their target price on Vale from $11.00 to $12.00 and gave the stock a “cautious” rating in a report on Tuesday, November 4th. Weiss Ratings upgraded Vale from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Finally, Zacks Research raised Vale from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Vale currently has an average rating of “Moderate Buy” and a consensus price target of $12.61.

Vale Stock Up 1.3%

Shares of VALE stock opened at $12.31 on Tuesday. The firm’s fifty day moving average price is $11.13 and its two-hundred day moving average price is $10.23. The company has a current ratio of 1.22, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. Vale S.A. has a 1 year low of $8.06 and a 1 year high of $12.40. The firm has a market capitalization of $55.88 billion, a P/E ratio of 10.01 and a beta of 0.82.

Vale (NYSE:VALE) last posted its quarterly earnings data on Thursday, October 30th. The basic materials company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.14. The company had revenue of $10.42 billion during the quarter, compared to the consensus estimate of $10.39 billion. Vale had a net margin of 14.23% and a return on equity of 18.14%. On average, equities analysts predict that Vale S.A. will post 1.85 EPS for the current fiscal 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.