Allspring Global Investments Holdings LLC Sells 359,141 Shares of Vale S.A. $VALE

Allspring Global Investments Holdings LLC decreased its holdings in Vale S.A. (NYSE:VALE) by 12.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,418,308 shares of the basic materials company’s stock after selling 359,141 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.05% of Vale worth $32,067,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC grew its position in Vale by 60.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,748 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 1,030 shares during the period. Triumph Capital Management acquired a new stake in shares of Vale in the 3rd quarter valued at $34,000. Huntington National Bank grew its holdings in shares of Vale by 36.3% in the 3rd quarter. Huntington National Bank now owns 4,713 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 1,256 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Vale by 171.6% during the third quarter. IFP Advisors Inc now owns 4,951 shares of the basic materials company’s stock worth $54,000 after buying an additional 3,128 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Vale in the third quarter valued at approximately $59,000. 21.85% of the stock is owned by institutional investors.

Vale Stock Up 0.8%

Shares of Vale stock opened at $16.18 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.15 and a quick ratio of 0.78. The company has a market capitalization of $73.45 billion, a P/E ratio of 28.90 and a beta of 0.53. The business has a 50-day moving average of $16.00 and a two-hundred day moving average of $13.63. Vale S.A. has a 1 year low of $8.06 and a 1 year high of $17.72.

Vale (NYSE:VALE) last released its quarterly earnings results on Friday, February 13th. The basic materials company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.52 by ($1.42). The company had revenue of $11.06 billion during the quarter, compared to analyst estimates of $10.86 billion. Vale had a net margin of 6.12% and a return on equity of 20.16%. As a group, equities analysts predict that Vale S.A. will post 1.85 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Scotiabank reissued a “sector perform” rating and issued a $16.50 target price on shares of Vale in a report on Monday, February 9th. The Goldman Sachs Group raised their price objective on shares of Vale from $13.80 to $18.00 and gave the company a “buy” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. raised their price target on shares of Vale from $17.50 to $18.00 and gave the company an “overweight” rating in a report on Thursday, March 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Vale in a research report on Monday, December 29th. Finally, Zacks Research downgraded Vale from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.25.

Vale Company Profile

Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.