Envestnet Asset Management Inc. Has $9.01 Million Stock Position in Vale S.A. (NYSE:VALE)

Envestnet Asset Management Inc. boosted its stake in Vale S.A. (NYSE:VALE - Free Report) by 21.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 902,300 shares of the basic materials company's stock after purchasing an additional 158,194 shares during the period. Envestnet Asset Management Inc.'s holdings in Vale were worth $9,005,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of VALE. Envestnet Portfolio Solutions Inc. bought a new position in shares of Vale during the fourth quarter valued at $94,000. Corient Private Wealth LLC increased its position in shares of Vale by 20.4% during the fourth quarter. Corient Private Wealth LLC now owns 138,247 shares of the basic materials company's stock worth $1,230,000 after buying an additional 23,465 shares during the period. Virtu Financial LLC acquired a new stake in shares of Vale during the fourth quarter worth $1,260,000. American Century Companies Inc. increased its position in shares of Vale by 8.5% during the fourth quarter. American Century Companies Inc. now owns 3,336,882 shares of the basic materials company's stock worth $29,598,000 after buying an additional 260,550 shares during the period. Finally, LPL Financial LLC increased its position in shares of Vale by 9.6% during the fourth quarter. LPL Financial LLC now owns 735,445 shares of the basic materials company's stock worth $6,523,000 after buying an additional 64,448 shares during the period. Institutional investors own 21.85% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VALE. CICC Research began coverage on shares of Vale in a research report on Monday, May 12th. They set an "outperform" rating and a $11.30 price objective for the company. Royal Bank Of Canada reiterated a "sector perform" rating and set a $11.00 price objective (down from $12.00) on shares of Vale in a research report on Thursday, April 17th. Barclays increased their price objective on shares of Vale from $12.75 to $13.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. UBS Group decreased their price objective on shares of Vale from $10.50 to $9.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Finally, Wall Street Zen began coverage on shares of Vale in a report on Wednesday, May 7th. They issued a "hold" rating for the company. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $11.73.

Vale Stock Down 1.9%

Shares of NYSE VALE traded down $0.20 during mid-day trading on Friday, reaching $10.04. 10,246,679 shares of the company's stock traded hands, compared to its average volume of 37,140,410. The stock has a market cap of $45.55 billion, a P/E ratio of 7.27, a PEG ratio of 0.35 and a beta of 0.77. The business has a 50-day simple moving average of $9.67 and a 200 day simple moving average of $9.50. Vale S.A. has a 1-year low of $8.06 and a 1-year high of $12.05. 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 (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 (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.02). The business had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.39 billion. Vale had a net margin of 15.54% and a return on equity of 17.65%. On average, analysts expect that Vale S.A. will post 1.85 EPS for the current fiscal 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.