Franklin Resources Inc. Boosts Stake in Vale S.A. $VALE

Franklin Resources Inc. boosted its holdings in Vale S.A. (NYSE:VALE) by 13.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 865,321 shares of the basic materials company’s stock after acquiring an additional 101,511 shares during the quarter. Franklin Resources Inc.’s holdings in Vale were worth $8,402,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VALE. Park Avenue Securities LLC boosted its position in shares of Vale by 8.5% during the 2nd quarter. Park Avenue Securities LLC now owns 13,935 shares of the basic materials company’s stock worth $135,000 after purchasing an additional 1,087 shares in the last quarter. MAI Capital Management lifted its stake in shares of Vale by 5.1% in the first quarter. MAI Capital Management now owns 23,597 shares of the basic materials company’s stock valued at $235,000 after purchasing an additional 1,155 shares during the period. Ascent Group LLC boosted its holdings in Vale by 2.3% during the second quarter. Ascent Group LLC now owns 61,364 shares of the basic materials company’s stock worth $596,000 after buying an additional 1,396 shares in the last quarter. Wellington Shields Capital Management LLC grew its position in Vale by 3.8% during the second quarter. Wellington Shields Capital Management LLC now owns 41,500 shares of the basic materials company’s stock worth $403,000 after buying an additional 1,500 shares during the period. Finally, Moran Wealth Management LLC increased its holdings in Vale by 2.7% in the second quarter. Moran Wealth Management LLC now owns 58,834 shares of the basic materials company’s stock valued at $571,000 after buying an additional 1,537 shares in the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Stock Up 1.2%

Shares of NYSE:VALE opened at $12.67 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.22 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $57.49 billion, a P/E ratio of 10.30 and a beta of 0.82. Vale S.A. has a 52-week low of $8.06 and a 52-week high of $12.72. The stock’s fifty day simple moving average is $11.61 and its 200-day simple moving average is $10.50.

Vale (NYSE:VALE) last announced its earnings results on Thursday, October 30th. The basic materials company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.14. The firm 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%. As a group, equities research analysts forecast that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley set a $11.50 price target on shares of Vale in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Vale in a report on Tuesday. Zacks Research raised Vale from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. Wells Fargo & Company lifted their price target on Vale from $11.00 to $12.00 and gave the stock a “cautious” rating in a research note on Tuesday, November 4th. Finally, Barclays boosted their price objective on shares of Vale from $13.80 to $14.50 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.61.

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.