Assenagon Asset Management S.A. Has $249.21 Million Stock Holdings in Vale S.A. $VALE

Key Points

• Assenagon Asset Management dramatically increased its Vale stake in Q1, lifting holdings by 15,202.2% to 15.66 million shares worth about $249.2 million.
• Vale reported Q1 EPS of $0.44, missing analyst estimates of $0.52, while revenue of $9.26 billion also came in below expectations.
• Despite the earnings miss, analysts remain mixed-to-positive on the stock, with an average rating of "Moderate Buy" and an average price target of $16.85.

Assenagon Asset Management S.A. lifted its holdings in shares of Vale S.A. (NYSE:VALE - Free Report) by 15,202.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 15,663,641 shares of the basic materials company's stock after acquiring an additional 15,561,279 shares during the period. Assenagon Asset Management S.A. owned approximately 0.35% of Vale worth $249,209,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in shares of Vale by 2.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 28,913 shares of the basic materials company's stock valued at $377,000 after purchasing an additional 632 shares during the period. Chesapeake Capital Corp IL raised its stake in Vale by 0.9% during the fourth quarter. Chesapeake Capital Corp IL now owns 72,358 shares of the basic materials company's stock worth $943,000 after acquiring an additional 646 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in Vale by 1.8% during the fourth quarter. Checchi Capital Advisers LLC now owns 38,134 shares of the basic materials company's stock worth $497,000 after acquiring an additional 675 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Vale by 1.3% during the fourth quarter. Quadrant Capital Group LLC now owns 66,870 shares of the basic materials company's stock valued at $871,000 after acquiring an additional 853 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in shares of Vale by 5.4% during the third quarter. Parallel Advisors LLC now owns 17,350 shares of the basic materials company's stock valued at $188,000 after acquiring an additional 885 shares during the period. 21.85% of the stock is currently owned by institutional investors and hedge funds.

Vale Stock Performance

Shares of NYSE:VALE opened at $14.85 on Thursday. The business has a fifty day moving average of $16.35 and a 200-day moving average of $15.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 1.24. Vale S.A. has a twelve month low of $8.97 and a twelve month high of $17.94. The firm has a market cap of $67.38 billion, a PE ratio of 22.16 and a beta of 0.46.

Vale (NYSE:VALE - Get Free Report) last issued its quarterly earnings results 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 return on equity of 21.10% and a net margin of 7.21%.The company had revenue of $9.26 billion for the quarter, compared to analyst estimates of $9.53 billion. On average, equities research analysts predict that Vale S.A. will post 2.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Parenti Grazielle Tallia acquired 10,464 shares of Vale stock in a transaction on Wednesday, April 1st. The shares were purchased at an average price of $16.11 per share, with a total value of $168,575.04. Following the acquisition, the insider owned 10,464 shares in the company, valued at $168,575.04. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Sobrinho Sami Arap acquired 12,990 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was purchased at an average price of $16.11 per share, for a total transaction of $209,268.90. Following the completion of the transaction, the vice president directly owned 12,990 shares in the company, valued at approximately $209,268.90. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing.

Analysts Set New Price Targets

Several research firms have recently weighed in on VALE. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $18.00 target price on shares of Vale in a report on Friday, May 15th. Barclays lifted their price target on shares of Vale from $15.50 to $16.50 and gave the company an "overweight" rating in a report on Monday, March 2nd. Wall Street Zen upgraded shares of Vale from a "hold" rating to a "buy" rating in a research report on Saturday, June 20th. Scotiabank set a $19.00 price objective on shares of Vale in a research note on Monday, June 15th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Vale in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $16.85.

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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