Allspring Global Investments Holdings LLC Decreases Stock Position in Vale S.A. $VALE

Key Points

• Allspring Global Investments Holdings cut its Vale stake by 8.8% in the first quarter, selling 212,939 shares and leaving it with 2,205,369 shares valued at about $35.4 million.
• Other institutional investors were more bullish: several funds, including Arrowstreet Capital and Capital World Investors, significantly increased their holdings, and institutions now own 21.85% of Vale shares.
• Analysts remain cautious overall. Vale has an average “Moderate Buy” rating, but recent price targets were trimmed by firms like Morgan Stanley and Wells Fargo, and the company recently reported Q1 EPS of $0.44, missing expectations.

Allspring Global Investments Holdings LLC decreased its stake in shares of Vale S.A. (NYSE:VALE - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,205,369 shares of the basic materials company's stock after selling 212,939 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Vale were worth $35,396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its stake in Vale by 2,239.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 41,596,000 shares of the basic materials company's stock worth $541,996,000 after acquiring an additional 39,818,066 shares during the last quarter. Capital World Investors grew its stake in shares of Vale by 58.2% during the fourth quarter. Capital World Investors now owns 89,322,261 shares of the basic materials company's stock worth $1,163,896,000 after purchasing an additional 32,864,929 shares in the last quarter. GQG Partners LLC grew its stake in shares of Vale by 42.4% during the fourth quarter. GQG Partners LLC now owns 65,132,572 shares of the basic materials company's stock worth $848,677,000 after purchasing an additional 19,397,396 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Vale by 15,202.2% in the first quarter. Assenagon Asset Management S.A. now owns 15,663,641 shares of the basic materials company's stock valued at $249,209,000 after buying an additional 15,561,279 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Vale by 77.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 20,809,302 shares of the basic materials company's stock valued at $271,145,000 after buying an additional 9,103,727 shares during the last quarter. Hedge funds and other institutional investors own 21.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on VALE shares. Morgan Stanley reissued an "equal weight" rating and set a $16.50 target price (down from $19.50) on shares of Vale in a research report on Wednesday, July 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Vale in a report on Wednesday, July 8th. Scotiabank set a $19.00 price objective on shares of Vale in a report on Monday, June 15th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Vale in a report on Monday, June 15th. Finally, Wells Fargo & Company reduced their price objective on shares of Vale from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.54.

Vale Price Performance

Shares of NYSE VALE opened at $14.20 on Monday. The stock has a fifty day moving average price of $15.56 and a 200 day moving average price of $15.76. Vale S.A. has a 1-year low of $9.36 and a 1-year high of $17.94. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.24 and a quick ratio of 0.79. The company has a market cap of $64.47 billion, a PE ratio of 21.20 and a beta of 0.46.

Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.08). Vale had a net margin of 7.21% and a return on equity of 21.10%. The firm had revenue of $9.26 billion during the quarter, compared to analyst estimates of $9.53 billion. Sell-side analysts forecast that Vale S.A. will post 1.98 EPS for the current year.

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.

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