Axa decreased its position in shares of Vale SA (NYSE:VALE) by 8.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 146,873 shares of the basic materials company’s stock after selling 13,473 shares during the period. Axa’s holdings in Vale were worth $1,796,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rational Advisors LLC bought a new stake in shares of Vale during the fourth quarter valued at approximately $122,000. KCS Wealth Advisory bought a new stake in shares of Vale during the fourth quarter valued at approximately $125,000. GWM Advisors LLC bought a new stake in shares of Vale during the fourth quarter valued at approximately $149,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Vale during the third quarter valued at approximately $151,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Vale during the third quarter valued at approximately $171,000. Institutional investors own 19.08% of the company’s stock.
Shares of VALE stock opened at $12.55 on Wednesday. Vale SA has a 1 year low of $7.47 and a 1 year high of $14.67. The firm has a market cap of $66,785.95, a price-to-earnings ratio of 11.84 and a beta of 1.55. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.45 and a quick ratio of 1.15.
Several research firms have recently issued reports on VALE. Zacks Investment Research upgraded shares of Vale from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research report on Monday, February 19th. Jefferies Group reiterated a “hold” rating and set a $14.00 price objective on shares of Vale in a research report on Thursday, February 15th. Cowen restated a “market perform” rating and issued a $15.00 price target (up previously from $11.00) on shares of Vale in a research report on Thursday, March 1st. Deutsche Bank cut shares of Vale from a “buy” rating to a “hold” rating and boosted their price target for the stock from $12.00 to $12.50 in a research report on Tuesday, January 16th. Finally, Credit Suisse Group restated a “buy” rating and issued a $16.00 price target on shares of Vale in a research report on Friday, March 2nd. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Vale presently has a consensus rating of “Buy” and a consensus price target of $13.18.
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Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.
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