SummitTX Capital L.P. cut its holdings in shares of Vale S.A. (NYSE:VALE – Free Report) by 35.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 442,804 shares of the basic materials company’s stock after selling 243,070 shares during the period. SummitTX Capital L.P.’s holdings in Vale were worth $7,045,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in VALE. NewEdge Advisors LLC boosted its stake in shares of Vale by 4.9% in the 1st quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company’s stock worth $792,000 after buying an additional 3,704 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Vale by 46.6% in the 1st quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company’s stock worth $375,000 after buying an additional 11,964 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Vale during the first quarter worth about $171,000. Strs Ohio purchased a new stake in Vale during the 1st quarter valued at approximately $117,000. Finally, Sivia Capital Partners LLC bought a new stake in Vale in the 2nd quarter valued at $123,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on VALE shares. Wall Street Zen downgraded Vale from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Bank of America raised shares of Vale from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $18.00 to $19.00 in a research report on Thursday, April 2nd. JPMorgan Chase & Co. lifted their target price on Vale from $19.50 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Scotiabank decreased their price target on shares of Vale from $19.00 to $16.00 and set a “sector perform” rating for the company in a research note on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $18.00 price objective on shares of Vale in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.31.
Vale Stock Up 0.0%
Vale stock opened at $14.79 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.24 and a quick ratio of 0.79. The stock has a market capitalization of $67.15 billion, a price-to-earnings ratio of 22.08 and a beta of 0.46. The business has a fifty day moving average price of $15.34 and a 200-day moving average price of $15.81. Vale S.A. has a 1-year low of $9.36 and a 1-year high of $17.94.
Vale (NYSE:VALE – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.08). The company had revenue of $9.26 billion for the quarter, compared to analyst estimates of $9.53 billion. Vale had a net margin of 7.21% and a return on equity of 21.10%. Equities research analysts forecast that Vale S.A. will post 1.91 EPS for the current fiscal year.
About Vale
Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.
Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.
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