Quantinno Capital Management LP Sells 8,538 Shares of Vale S.A. (NYSE:VALE)

Quantinno Capital Management LP decreased its stake in shares of Vale S.A. (NYSE:VALE) by 30.0% in the 3rd quarter, Holdings Channel reports. The fund owned 19,905 shares of the basic materials company’s stock after selling 8,538 shares during the quarter. Quantinno Capital Management LP’s holdings in Vale were worth $232,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in VALE. Connor Clark & Lunn Investment Management Ltd. raised its position in Vale by 6.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,951,020 shares of the basic materials company’s stock valued at $92,868,000 after buying an additional 468,432 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Vale by 274.4% during the 3rd quarter. Bank of Montreal Can now owns 162,453 shares of the basic materials company’s stock worth $1,915,000 after acquiring an additional 119,061 shares in the last quarter. Bridgewater Associates LP raised its holdings in shares of Vale by 723.2% in the third quarter. Bridgewater Associates LP now owns 2,035,477 shares of the basic materials company’s stock valued at $23,774,000 after purchasing an additional 1,788,205 shares during the last quarter. Polar Asset Management Partners Inc. bought a new stake in shares of Vale in the third quarter worth $1,422,000. Finally, NFJ Investment Group LLC boosted its holdings in Vale by 17.6% during the third quarter. NFJ Investment Group LLC now owns 469,036 shares of the basic materials company’s stock worth $5,478,000 after purchasing an additional 70,278 shares during the last quarter. Institutional investors own 21.85% of the company’s stock.

Vale Price Performance

NYSE:VALE opened at $9.11 on Tuesday. The company has a market cap of $40.84 billion, a P/E ratio of 4.22, a P/E/G ratio of 0.27 and a beta of 0.91. The firm’s fifty day moving average price is $10.28 and its two-hundred day moving average price is $10.69. Vale S.A. has a one year low of $9.09 and a one year high of $16.08. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58.

Vale (NYSE:VALE) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. The business had revenue of $9.55 billion for the quarter, compared to analyst estimates of $9.61 billion. Vale had a net margin of 22.59% and a return on equity of 21.07%. During the same quarter in the prior year, the business earned $0.66 EPS. Equities analysts expect that Vale S.A. will post 2.08 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wolfe Research cut shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. Barclays dropped their target price on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Scotiabank decreased their price target on Vale from $16.00 to $14.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price objective on Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, September 23rd. Finally, StockNews.com began coverage on shares of Vale in a research note on Friday. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Vale currently has an average rating of “Hold” and an average price target of $14.38.

Vale Company 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.