Principal Financial Group Inc. lifted its stake in shares of Vale S.A. (NYSE:VALE - Free Report) by 34.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 199,736 shares of the basic materials company's stock after purchasing an additional 50,963 shares during the period. Principal Financial Group Inc.'s holdings in Vale were worth $1,993,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Blue Trust Inc. lifted its holdings in Vale by 5.1% in the first quarter. Blue Trust Inc. now owns 25,876 shares of the basic materials company's stock valued at $258,000 after buying an additional 1,248 shares during the period. Snowden Capital Advisors LLC increased its position in shares of Vale by 5.9% during the fourth quarter. Snowden Capital Advisors LLC now owns 24,181 shares of the basic materials company's stock worth $214,000 after acquiring an additional 1,349 shares in the last quarter. Atlas Capital Advisors Inc. grew its position in Vale by 68.3% in the fourth quarter. Atlas Capital Advisors Inc. now owns 4,000 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 1,623 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in Vale by 10.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 17,278 shares of the basic materials company's stock valued at $172,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Ameritas Advisory Services LLC grew its position in Vale by 14.4% in the first quarter. Ameritas Advisory Services LLC now owns 13,951 shares of the basic materials company's stock valued at $130,000 after purchasing an additional 1,757 shares in the last quarter. 21.85% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on VALE. CICC Research began coverage on shares of Vale in a research note on Monday, May 12th. They issued an "outperform" rating and a $11.30 price target for the company. Bank of America upgraded shares of Vale from a "neutral" rating to a "buy" rating and raised their target price for the stock from $11.00 to $11.50 in a research note on Thursday, April 10th. Wall Street Zen began coverage on shares of Vale in a research note on Wednesday, May 7th. They issued a "hold" rating on the stock. UBS Group lowered their price target on shares of Vale from $10.50 to $9.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $11.00 price target (down from $12.00) on shares of Vale in a report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Vale currently has a consensus rating of "Hold" and a consensus price target of $11.79.
Get Our Latest Stock Analysis on Vale
Vale Trading Down 0.2%
Vale stock traded down $0.02 during mid-day trading on Friday, reaching $9.79. 35,497,628 shares of the company traded hands, compared to its average volume of 33,354,962. 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 firm's 50 day moving average price is $9.63 and its 200 day moving average price is $9.46. The firm 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. Vale S.A. has a 52-week low of $8.06 and a 52-week high of $12.05.
Vale (NYSE:VALE - Get Free Report) last released its earnings results 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 business had revenue of $8.12 billion during the quarter, compared to analysts' expectations of $8.39 billion. Vale had a return on equity of 17.65% and a net margin of 15.54%. On average, analysts anticipate that Vale S.A. will post 1.85 earnings per share for the current fiscal year.
About Vale
(
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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