Jennison Associates LLC Has $7.05 Million Stock Holdings in Vale S.A. (NYSE:VALE)

Jennison Associates LLC lifted its position in Vale S.A. (NYSE:VALE - Free Report) by 81.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 706,538 shares of the basic materials company's stock after acquiring an additional 317,150 shares during the period. Jennison Associates LLC's holdings in Vale were worth $7,051,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of VALE. Envestnet Portfolio Solutions Inc. acquired a new stake in Vale during the 4th quarter worth approximately $94,000. Corient Private Wealth LLC raised its holdings in Vale by 20.4% during the 4th 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. Advisors Asset Management Inc. raised its holdings in Vale by 6.7% during the 4th quarter. Advisors Asset Management Inc. now owns 254,235 shares of the basic materials company's stock worth $2,255,000 after buying an additional 16,015 shares during the period. Virtu Financial LLC acquired a new stake in Vale during the 4th quarter worth approximately $1,260,000. Finally, American Century Companies Inc. raised its holdings in Vale by 8.5% during the 4th 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. 21.85% of the stock is currently owned by institutional investors and hedge funds.

Vale Trading Down 0.2%

VALE stock opened at $9.79 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.11 and a quick ratio of 0.74. The company has a fifty day moving average price of $9.63 and a two-hundred day moving average price of $9.47. Vale S.A. has a one year low of $8.06 and a one year high of $12.05. The stock has a market cap of $44.44 billion, a price-to-earnings ratio of 7.09, a price-to-earnings-growth ratio of 0.32 and a beta of 0.77.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays raised their price target on shares of Vale from $12.75 to $13.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Bank of America raised shares of Vale from a "neutral" rating to a "buy" rating and raised their price target for the stock from $11.00 to $11.50 in a research note on Thursday, April 10th. CICC Research assumed coverage on shares of Vale in a research note on Monday, May 12th. They set an "outperform" rating and a $11.30 price target for the company. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $11.00 price target (down from $12.00) on shares of Vale in a research note on Thursday, April 17th. Finally, UBS Group decreased their price target on shares of Vale from $10.50 to $9.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Vale presently has an average rating of "Hold" and an average target price of $11.79.

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.

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