Vale S.A. (NYSE:VALE) Shares Sold by Perpetual Ltd

Perpetual Ltd reduced its stake in Vale S.A. (NYSE:VALE) by 2.7% in the first quarter, HoldingsChannel reports. The fund owned 47,111 shares of the basic materials company’s stock after selling 1,292 shares during the quarter. Perpetual Ltd’s holdings in Vale were worth $573,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in Vale by 22.0% during the fourth quarter. Wellington Management Group LLP now owns 12,315,171 shares of the basic materials company’s stock valued at $195,319,000 after purchasing an additional 2,224,756 shares during the last quarter. RWC Asset Advisors US LLC lifted its stake in Vale by 0.7% during the fourth quarter. RWC Asset Advisors US LLC now owns 10,837,103 shares of the basic materials company’s stock valued at $171,876,000 after purchasing an additional 75,726 shares during the last quarter. Oaktree Capital Management LP lifted its stake in Vale by 8.1% during the fourth quarter. Oaktree Capital Management LP now owns 9,399,887 shares of the basic materials company’s stock valued at $149,082,000 after purchasing an additional 705,520 shares during the last quarter. SPX Gestao de Recursos Ltda lifted its stake in Vale by 1,422.7% during the fourth quarter. SPX Gestao de Recursos Ltda now owns 8,586,062 shares of the basic materials company’s stock valued at $136,175,000 after purchasing an additional 8,022,188 shares during the last quarter. Finally, Ninety One UK Ltd lifted its stake in Vale by 36.0% during the fourth quarter. Ninety One UK Ltd now owns 8,396,322 shares of the basic materials company’s stock valued at $133,166,000 after purchasing an additional 2,220,317 shares during the last quarter. 21.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VALE. Deutsche Bank Aktiengesellschaft cut their target price on shares of Vale from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Thursday, April 4th. UBS Group raised shares of Vale from a “neutral” rating to a “buy” rating and increased their target price for the company from $13.00 to $15.00 in a research note on Tuesday, May 7th. StockNews.com initiated coverage on shares of Vale in a report on Saturday, March 30th. They set a “buy” rating on the stock. Morgan Stanley cut their price target on shares of Vale from $18.00 to $15.50 and set an “overweight” rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. cut their price target on shares of Vale from $20.50 to $20.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Vale presently has a consensus rating of “Moderate Buy” and an average target price of $16.55.

Vale Stock Up 1.0 %

Vale stock opened at $11.29 on Friday. The firm has a market cap of $50.61 billion, a PE ratio of 6.24, a P/E/G ratio of 4.94 and a beta of 0.98. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.79 and a current ratio of 1.12. The firm’s 50 day moving average price is $12.09 and its two-hundred day moving average price is $13.19. Vale S.A. has a twelve month low of $11.02 and a twelve month high of $16.08.

Vale (NYSE:VALE) last released its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.35 billion. Vale had a net margin of 18.72% and a return on equity of 19.59%. On average, research analysts predict that Vale S.A. will post 2.18 EPS for the current fiscal year.

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.