Axxcess Wealth Management LLC Takes Position in Vale S.A. (NYSE:VALE)

Axxcess Wealth Management LLC bought a new stake in Vale S.A. (NYSE:VALE) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 22,187 shares of the basic materials company’s stock, valued at approximately $259,000.

A number of other institutional investors have also modified their holdings of the stock. Ballentine Partners LLC raised its stake in shares of Vale by 7.8% in the 3rd quarter. Ballentine Partners LLC now owns 13,627 shares of the basic materials company’s stock valued at $159,000 after purchasing an additional 987 shares in the last quarter. Legacy Capital Group California Inc. raised its stake in Vale by 6.9% during the second quarter. Legacy Capital Group California Inc. now owns 17,932 shares of the basic materials company’s stock worth $200,000 after acquiring an additional 1,154 shares during the period. Bank of New York Mellon Corp raised its stake in Vale by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 62,076 shares of the basic materials company’s stock worth $693,000 after acquiring an additional 1,187 shares during the period. IFG Advisory LLC raised its stake in Vale by 6.1% during the second quarter. IFG Advisory LLC now owns 22,702 shares of the basic materials company’s stock worth $254,000 after acquiring an additional 1,296 shares during the period. Finally, Pinnacle Associates Ltd. raised its stake in Vale by 5.0% during the third quarter. Pinnacle Associates Ltd. now owns 28,754 shares of the basic materials company’s stock worth $336,000 after acquiring an additional 1,375 shares during the period. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Trading Down 0.7 %

Shares of NYSE:VALE opened at $9.82 on Friday. The stock has a market capitalization of $44.02 billion, a price-to-earnings ratio of 4.55, a PEG ratio of 0.27 and a beta of 0.94. Vale S.A. has a 1-year low of $9.66 and a 1-year high of $16.08. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. The company has a 50 day moving average price of $10.79 and a 200 day moving average price of $11.15.

Vale (NYSE:VALE) last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The firm had revenue of $9.55 billion during 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 period last year, the firm posted $0.66 earnings per share. On average, research analysts anticipate that Vale S.A. will post 2.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VALE has been the subject of several recent analyst reports. Scotiabank decreased their target price on shares of Vale from $17.00 to $16.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 15th. UBS Group cut shares of Vale from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $14.00 to $11.50 in a report on Monday. StockNews.com started coverage on shares of Vale in a report on Friday, October 18th. They issued a “buy” rating for the company. Morgan Stanley decreased their price objective on shares of Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.83.

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.