Trek Financial LLC trimmed its holdings in Vale S.A. (NYSE:VALE – Free Report) by 22.6% in the third quarter, Holdings Channel reports. The fund owned 536,877 shares of the basic materials company’s stock after selling 156,374 shares during the period. Trek Financial LLC’s holdings in Vale were worth $7,200,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Vale in the third quarter valued at approximately $4,721,000. ProShare Advisors LLC grew its holdings in shares of Vale by 7.1% during the third quarter. ProShare Advisors LLC now owns 15,980 shares of the basic materials company’s stock worth $214,000 after buying an additional 1,053 shares in the last quarter. Vise Technologies Inc. bought a new stake in Vale in the 3rd quarter valued at approximately $627,000. Partners Wealth Management LLC bought a new position in shares of Vale during the 3rd quarter worth approximately $268,000. Finally, Park Avenue Securities LLC raised its holdings in shares of Vale by 11.6% in the third quarter. Park Avenue Securities LLC now owns 17,737 shares of the basic materials company’s stock valued at $238,000 after purchasing an additional 1,842 shares during the last quarter. Institutional investors own 21.85% of the company’s stock.
Vale Price Performance
Shares of NYSE:VALE opened at $11.40 on Monday. The firm has a 50 day simple moving average of $13.87 and a 200 day simple moving average of $15.24. The company has a market cap of $51.74 billion, a price-to-earnings ratio of 76.01 and a beta of 0.42. Vale S.A. has a one year low of $11.06 and a one year high of $17.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.19 and a quick ratio of 0.77.
Vale (NYSE:VALE – Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.09). Vale had a return on equity of 16.72% and a net margin of 1.64%. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.45 billion. Research analysts predict that Vale S.A. will post 1.65 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages recently commented on VALE. The Goldman Sachs Group cut shares of Vale from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $16.00 in a report on Monday, July 27th. Barclays reduced their price objective on shares of Vale from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 13th. Morgan Stanley set a $15.50 price objective on Vale in a report on Wednesday, October 7th. Scotiabank raised Vale from a “sector perform” rating to a “sector outperform” rating and set a $16.00 target price on the stock in a research report on Monday, October 19th. Finally, Wells Fargo & Company reduced their price target on Vale from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, July 9th. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.71.
Check Out Our Latest Report on Vale
About Vale
Vale SA is a Brazil-based global mining and logistics company best known for producing iron ore and iron ore pellets, key raw materials used in steelmaking. The company also produces nickel, copper, manganese ore, coal and other mineral products, with operations spanning exploration, extraction, processing and transportation.
Vale operates an extensive logistics network that includes railways, ports and maritime transportation systems, primarily supporting the movement of minerals from its production sites to domestic and international customers.
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