ARGA Investment Management LP Sells 80,637 Shares of Vale S.A. $VALE

Key Points

• ARGA Investment Management LP cut its Vale stake by 44.2% in the first quarter, selling 80,637 shares and leaving it with 101,727 shares valued at about $1.62 million.
• Vale posted first-quarter EPS of $0.44, missing Wall Street’s $0.52 estimate, while revenue also came in below expectations at $9.26 billion versus $9.53 billion forecast.
• Analyst sentiment remains mixed but generally constructive, with Vale holding a Moderate Buy consensus rating and a consensus price target of $16.54, even as some firms trimmed targets.

ARGA Investment Management LP decreased its position in shares of Vale S.A. (NYSE:VALE - Free Report) by 44.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,727 shares of the basic materials company's stock after selling 80,637 shares during the period. ARGA Investment Management LP's holdings in Vale were worth $1,618,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. N.E.W. Advisory Services LLC purchased a new stake in Vale in the fourth quarter worth $26,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna raised its position in shares of Vale by 128.3% in the 4th quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 2,055 shares of the basic materials company's stock worth $27,000 after acquiring an additional 1,155 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in Vale during the fourth quarter valued at about $33,000. Triumph Capital Management purchased a new position in Vale in the third quarter valued at about $34,000. Finally, Cornerstone Planning Group LLC grew its stake in Vale by 15,360.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 3,092 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 3,072 shares during the last quarter. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

Vale Stock Performance

Shares of VALE opened at $14.46 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 1.24. The stock has a 50-day moving average of $15.75 and a two-hundred day moving average of $15.70. The stock has a market cap of $65.64 billion, a P/E ratio of 21.58 and a beta of 0.46. Vale S.A. has a one year low of $9.36 and a one year high of $17.94.

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 for the quarter, missing analysts' consensus estimates 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. As a group, research analysts predict that Vale S.A. will post 2.08 EPS for the current year.

Analysts Set New Price Targets

VALE has been the subject of several analyst reports. Royal Bank Of Canada reissued a "sector perform" rating on shares of Vale in a research report on Monday, June 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Vale in a research report on Wednesday. Morgan Stanley reiterated an "equal weight" rating and set a $16.50 price objective (down from $19.50) on shares of Vale in a research note on Wednesday. UBS Group increased their target price on shares of Vale from $12.00 to $16.00 and gave the company a "neutral" rating in a research report on Friday, March 27th. Finally, Bank of America raised shares of Vale from a "neutral" rating to a "buy" rating and increased their target price for the company from $18.00 to $19.00 in a research report on Thursday, April 2nd. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.54.

About Vale

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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