Davis Selected Advisers Acquires 215,001 Shares of Vale S.A. $VALE

Davis Selected Advisers increased its holdings in Vale S.A. (NYSE:VALE) by 7.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,948,514 shares of the basic materials company’s stock after buying an additional 215,001 shares during the period. Davis Selected Advisers owned about 0.06% of Vale worth $28,630,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Banque Transatlantique SA purchased a new position in shares of Vale in the 1st quarter valued at $30,000. CENTRAL TRUST Co bought a new stake in Vale during the second quarter valued at about $34,000. GAMMA Investing LLC grew its stake in Vale by 98.4% in the second quarter. GAMMA Investing LLC now owns 4,075 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 2,021 shares during the last quarter. Thompson Investment Management Inc. bought a new position in Vale in the second quarter worth about $46,000. Finally, Westend Capital Management LLC purchased a new stake in shares of Vale during the second quarter valued at about $48,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Trading Down 0.7%

NYSE VALE opened at $12.39 on Friday. Vale S.A. has a 12-month low of $8.06 and a 12-month high of $12.60. The company has a fifty day simple moving average of $11.26 and a two-hundred day simple moving average of $10.28. The company has a current ratio of 1.22, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. The stock has a market cap of $56.24 billion, a P/E ratio of 10.07 and a beta of 0.82.

Vale (NYSE:VALE) last released its earnings results on Thursday, October 30th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.14. Vale had a return on equity of 18.14% and a net margin of 14.23%.The firm had revenue of $10.42 billion for the quarter, compared to the consensus estimate of $10.39 billion. On average, analysts forecast that Vale S.A. will post 1.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Clarkson Capital began coverage on shares of Vale in a research report on Wednesday, September 3rd. They issued a “buy” rating and a $12.00 price objective on the stock. Weiss Ratings upgraded shares of Vale from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, November 7th. Barclays upped their price target on Vale from $13.80 to $14.50 and gave the stock an “overweight” rating in a research report on Monday. Scotiabank raised Vale from a “sector perform” rating to a “sector outperform” rating and set a $14.00 price objective for the company in a research report on Thursday, September 18th. Finally, UBS Group boosted their target price on Vale from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.61.

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.