Comerica Bank grew its holdings in Vale (NYSE:VALE) by 4.8% in the first quarter, HoldingsChannel reports. The firm owned 288,058 shares of the basic materials company’s stock after purchasing an additional 13,182 shares during the period. Comerica Bank’s holdings in Vale were worth $4,067,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Certified Advisory Corp purchased a new stake in shares of Vale during the fourth quarter worth $116,000. Rational Advisors LLC purchased a new stake in shares of Vale during the fourth quarter worth $122,000. GWM Advisors LLC purchased a new stake in shares of Vale during the fourth quarter worth $149,000. Quadrant Private Wealth Management LLC purchased a new stake in shares of Vale during the fourth quarter worth $176,000. Finally, Financial Sense Advisors Inc. purchased a new stake in shares of Vale during the fourth quarter worth $181,000. Institutional investors own 19.03% of the company’s stock.
NYSE VALE opened at $15.03 on Friday. Vale has a fifty-two week low of $14.98 and a fifty-two week high of $15.24. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.53. The stock has a market cap of $77.80 billion, a price-to-earnings ratio of 11.13 and a beta of 1.63.
Vale (NYSE:VALE) last posted its earnings results on Wednesday, April 25th. The basic materials company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.03. Vale had a return on equity of 14.89% and a net margin of 13.53%. The company had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.60 billion. analysts anticipate that Vale will post 1.46 earnings per share for the current fiscal year.
Several brokerages recently issued reports on VALE. Zacks Investment Research lowered Vale from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 29th. Credit Suisse Group set a $16.00 price objective on Vale and gave the stock a “buy” rating in a report on Friday, March 30th. Jefferies Group reiterated a “hold” rating and set a $14.50 price objective on shares of Vale in a report on Thursday, March 1st. TheStreet lowered Vale from a “b-” rating to a “c+” rating in a report on Tuesday, March 13th. Finally, Bank of America began coverage on Vale in a report on Wednesday, March 28th. They set a “buy” rating and a $16.50 price objective for the company. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $13.63.
Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pallets for use as raw materials in steelmaking in Brazil and internationally. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services, as well as engages in the provision of related railroad, port, and terminal logistics services.
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