Vale S.A. (NYSE:VALE) Shares Acquired by Naviter Wealth LLC

Naviter Wealth LLC grew its position in shares of Vale S.A. (NYSE:VALE) by 4.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,618 shares of the basic materials company’s stock after buying an additional 4,393 shares during the period. Naviter Wealth LLC’s holdings in Vale were worth $1,166,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its stake in Vale by 85.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 491,207 shares of the basic materials company’s stock valued at $7,791,000 after purchasing an additional 225,806 shares during the last quarter. Oaktree Capital Management LP lifted its holdings in shares of Vale by 8.1% in the 4th quarter. Oaktree Capital Management LP now owns 9,399,887 shares of the basic materials company’s stock worth $149,082,000 after purchasing an additional 705,520 shares during the last quarter. Blue Trust Inc. boosted its position in Vale by 10.2% during the 4th quarter. Blue Trust Inc. now owns 10,097 shares of the basic materials company’s stock valued at $160,000 after purchasing an additional 932 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Vale by 49,161.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,440,413 shares of the basic materials company’s stock worth $38,705,000 after buying an additional 2,435,459 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in Vale in the fourth quarter worth $190,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Trading Down 0.6 %

Vale stock opened at $11.13 on Wednesday. Vale S.A. has a 1 year low of $10.99 and a 1 year high of $16.08. The firm’s 50 day moving average price is $11.99 and its two-hundred day moving average price is $12.99. The firm has a market cap of $49.90 billion, a price-to-earnings ratio of 6.15, a price-to-earnings-growth ratio of 3.72 and a beta of 0.96. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.79 and a current ratio of 1.12.

Vale (NYSE:VALE) last issued its earnings results on Wednesday, April 24th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Vale had a return on equity of 19.59% and a net margin of 18.72%. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.35 billion. On average, research analysts predict that Vale S.A. will post 2.17 EPS for the current fiscal year.

Analyst Ratings Changes

VALE has been the subject of several recent research reports. StockNews.com initiated coverage on shares of Vale in a research report on Saturday, March 30th. They set a “buy” rating for the company. BNP Paribas upgraded Vale from an “underperform” rating to a “neutral” rating in a research report on Friday, June 21st. Barclays raised their target price on Vale from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft reduced their price target on Vale from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday, April 4th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $13.00 price objective (down previously from $20.00) on shares of Vale in a report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Vale currently has a consensus rating of “Moderate Buy” and an average target price of $16.91.

Vale Profile

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.