QRG Capital Management Inc. Increases Stock Position in Vale S.A. (NYSE:VALE)

QRG Capital Management Inc. increased its position in Vale S.A. (NYSE:VALE) by 21.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,556 shares of the basic materials company’s stock after purchasing an additional 11,653 shares during the quarter. QRG Capital Management Inc.’s holdings in Vale were worth $766,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacifica Partners Inc. purchased a new position in shares of Vale in the second quarter valued at $27,000. Lowe Wealth Advisors LLC bought a new position in Vale during the 2nd quarter valued at $45,000. Keynote Financial Services LLC bought a new position in Vale during the 1st quarter valued at $126,000. Phillips Wealth Planners LLC bought a new position in Vale during the 3rd quarter valued at $118,000. Finally, Vawter Financial Ltd. bought a new position in Vale during the 2nd quarter valued at $124,000. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Morgan Stanley reduced their price objective on shares of Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. StockNews.com started coverage on shares of Vale in a research report on Friday, October 18th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. reduced their price target on shares of Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, September 23rd. Wolfe Research cut shares of Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. Finally, Scotiabank dropped their price objective on shares of Vale from $17.00 to $16.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.17.

Vale Stock Down 5.5 %

Vale stock opened at $10.59 on Friday. The company’s 50-day moving average price is $10.81 and its two-hundred day moving average price is $11.21. The stock has a market cap of $47.48 billion, a price-to-earnings ratio of 4.90, a PEG ratio of 0.29 and a beta of 0.94. The company has a current ratio of 0.91, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. Vale S.A. has a 52 week low of $9.66 and a 52 week high of $16.08.

Vale (NYSE:VALE) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.15. The company had revenue of $9.55 billion for the quarter, compared to analysts’ expectations 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 previous year, the company posted $0.66 EPS. On average, analysts expect that Vale S.A. will post 2.12 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.