Massachusetts Financial Services Co. MA increased its holdings in shares of Vale S.A. (NYSE:VALE - Free Report) by 38.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,932,405 shares of the basic materials company's stock after purchasing an additional 4,389,959 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.35% of Vale worth $159,005,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Atlas Capital Advisors Inc. lifted its stake in Vale by 68.3% during the 4th quarter. Atlas Capital Advisors Inc. now owns 4,000 shares of the basic materials company's stock worth $35,000 after acquiring an additional 1,623 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in Vale during the 1st quarter worth about $41,000. Golden State Wealth Management LLC lifted its stake in Vale by 193.0% during the 1st quarter. Golden State Wealth Management LLC now owns 4,119 shares of the basic materials company's stock worth $41,000 after acquiring an additional 2,713 shares in the last quarter. Allworth Financial LP lifted its stake in Vale by 233.7% during the 1st quarter. Allworth Financial LP now owns 5,440 shares of the basic materials company's stock worth $53,000 after acquiring an additional 3,810 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in Vale during the 1st quarter worth $64,000. 21.85% of the stock is owned by institutional investors and hedge funds.
Vale Trading Down 0.2%
Vale stock traded down $0.02 during trading on Friday, hitting $9.79. The company's stock had a trading volume of 35,497,628 shares, compared to its average volume of 33,305,230. The stock has a market capitalization of $44.44 billion, a price-to-earnings ratio of 7.09, a P/E/G ratio of 0.32 and a beta of 0.77. The stock's fifty day moving average is $9.63 and its 200 day moving average is $9.46. 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 quick ratio of 0.74 and a current ratio of 1.11.
Vale (NYSE:VALE - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). The firm had revenue of $8.12 billion during 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%. As a group, equities research analysts predict that Vale S.A. will post 1.85 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on VALE shares. Royal Bank Of Canada reissued a "sector perform" rating and set a $11.00 target price (down from $12.00) on shares of Vale in a research note on Thursday, April 17th. CICC Research initiated coverage on shares of Vale in a research note on Monday, May 12th. They issued an "outperform" rating and a $11.30 target price for the company. Bank of America raised shares of Vale from a "neutral" rating to a "buy" rating and upped their price target for the stock from $11.00 to $11.50 in a research note on Thursday, April 10th. Barclays lifted their price target on Vale from $12.75 to $13.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Finally, Wall Street Zen assumed coverage on Vale in a research note on Wednesday, May 7th. They set a "hold" rating for the company. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $11.79.
Check Out Our Latest Stock Report on Vale
Vale Company Profile
(
Free Report)
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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