CenterBook Partners LP Has $1.76 Million Position in VALE S.A. (NYSE:VALE)

CenterBook Partners LP boosted its stake in VALE S.A. (NYSE:VALE - Free Report) by 81.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176,105 shares of the basic materials company's stock after buying an additional 78,952 shares during the period. CenterBook Partners LP's holdings in VALE were worth $1,758,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. acquired a new position in shares of VALE during the first quarter valued at $228,000. Golden State Wealth Management LLC increased its holdings in shares of VALE by 193.0% during the first quarter. Golden State Wealth Management LLC now owns 4,119 shares of the basic materials company's stock valued at $41,000 after purchasing an additional 2,713 shares during the period. Cornerstone Wealth Management LLC increased its holdings in shares of VALE by 20.4% during the first quarter. Cornerstone Wealth Management LLC now owns 15,954 shares of the basic materials company's stock valued at $159,000 after purchasing an additional 2,707 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in VALE by 38.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,522 shares of the basic materials company's stock valued at $225,000 after buying an additional 6,261 shares in the last quarter. Finally, Merit Financial Group LLC boosted its stake in VALE by 44.4% during the first quarter. Merit Financial Group LLC now owns 20,847 shares of the basic materials company's stock valued at $208,000 after buying an additional 6,412 shares in the last quarter. 21.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VALE has been the subject of several research reports. Barclays raised their target price on VALE from $12.75 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. UBS Group decreased their price target on VALE from $10.50 to $9.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Wall Street Zen started coverage on VALE in a research report on Wednesday, May 7th. They issued a "hold" rating for the company. CICC Research started coverage on VALE in a research report on Monday, May 12th. They issued an "outperform" rating and a $11.30 price target for the company. Finally, Bank of America upgraded VALE from a "neutral" rating to a "buy" rating and increased their price target for the company from $11.00 to $11.50 in a research report on Thursday, April 10th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $11.79.

VALE Stock Performance

Shares of VALE stock traded down $0.02 during trading on Friday, reaching $9.79. The company had a trading volume of 35,497,628 shares, compared to its average volume of 33,354,962. The firm's 50 day simple moving average is $9.63 and its two-hundred day simple moving average is $9.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.11 and a quick ratio of 0.74. VALE S.A. has a one year low of $8.06 and a one year high of $12.05. The company has a market capitalization of $44.44 billion, a PE ratio of 7.09, a PEG ratio of 0.32 and a beta of 0.77.

VALE (NYSE:VALE - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.02). The company had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.39 billion. VALE had a net margin of 15.54% and a return on equity of 17.65%. Sell-side analysts forecast that VALE S.A. will post 1.85 earnings per share for the current year.

VALE Company 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.