Ninety One UK Ltd Trims Stock Position in Vale S.A. (NYSE:VALE)

Ninety One UK Ltd trimmed its stake in shares of Vale S.A. (NYSE:VALE - Free Report) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,304,537 shares of the basic materials company's stock after selling 105,660 shares during the quarter. Ninety One UK Ltd owned approximately 0.14% of Vale worth $62,919,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership increased its position in Vale by 328.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 17,349,581 shares of the basic materials company's stock valued at $153,891,000 after acquiring an additional 13,298,912 shares during the period. FMR LLC boosted its stake in Vale by 28.8% during the fourth quarter. FMR LLC now owns 47,163,226 shares of the basic materials company's stock worth $418,338,000 after acquiring an additional 10,557,888 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Vale by 49.3% during the fourth quarter. Lazard Asset Management LLC now owns 18,238,313 shares of the basic materials company's stock worth $161,773,000 after acquiring an additional 6,023,144 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Vale by 20.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 33,995,398 shares of the basic materials company's stock worth $301,541,000 after acquiring an additional 5,775,590 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in Vale by 6,547.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 4,782,424 shares of the basic materials company's stock worth $42,420,000 after acquiring an additional 4,710,481 shares in the last quarter. 21.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VALE has been the topic of a number of recent research reports. CICC Research started coverage on shares of Vale in a research note on Monday, May 12th. They issued an "outperform" rating and a $11.30 price objective on the stock. 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 report on Monday, April 28th. Bank of America upgraded shares of Vale from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $11.00 to $11.50 in a report on Thursday, April 10th. Barclays increased their target price 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. Finally, Wall Street Zen began coverage on shares of Vale in a research report on Wednesday, May 7th. They issued a "hold" rating for the company. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Vale currently has an average rating of "Hold" and a consensus target price of $11.79.

Vale Price Performance

Shares of VALE stock traded up $0.17 during trading hours on Friday, hitting $10.13. 47,687,536 shares of the company's stock were exchanged, compared to its average volume of 33,001,492. The company has a market capitalization of $45.98 billion, a PE ratio of 7.34, a PEG ratio of 0.32 and a beta of 0.77. Vale S.A. has a 12-month low of $8.06 and a 12-month high of $12.05. The business's 50 day simple moving average is $9.58 and its 200-day simple moving average is $9.43. The company has a current ratio of 1.11, a quick ratio of 0.74 and a debt-to-equity ratio of 0.49.

Vale (NYSE:VALE - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). The firm had revenue of $8.12 billion for 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%. On average, equities research analysts anticipate that Vale S.A. will post 1.85 earnings per share for the current year.

About Vale

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.