Captrust Financial Advisors Cuts Holdings in Vale S.A. (NYSE:VALE)

Captrust Financial Advisors decreased its position in Vale S.A. (NYSE:VALE) by 15.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,926 shares of the basic materials company’s stock after selling 4,221 shares during the period. Captrust Financial Advisors’ holdings in Vale were worth $279,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. FMR LLC increased its position in shares of Vale by 18.2% during the third quarter. FMR LLC now owns 36,605,338 shares of the basic materials company’s stock valued at $427,550,000 after acquiring an additional 5,635,167 shares during the last quarter. SPX Gestao de Recursos Ltda grew its stake in Vale by 60.6% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 21,969,937 shares of the basic materials company’s stock valued at $245,404,000 after purchasing an additional 8,288,112 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Vale by 3,692.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 18,200,000 shares of the basic materials company’s stock valued at $212,576,000 after purchasing an additional 17,720,100 shares during the period. Fisher Asset Management LLC increased its position in shares of Vale by 10.7% during the 3rd quarter. Fisher Asset Management LLC now owns 17,404,942 shares of the basic materials company’s stock valued at $203,290,000 after purchasing an additional 1,682,544 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Vale by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,906,975 shares of the basic materials company’s stock worth $139,073,000 after purchasing an additional 53,061 shares during the period. Institutional investors own 21.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on VALE. UBS Group lowered shares of Vale from a “buy” rating to a “neutral” rating and reduced their price target for the company from $14.00 to $11.50 in a research report on Monday, November 11th. StockNews.com assumed coverage on shares of Vale in a research report on Friday. They set a “buy” rating for the company. JPMorgan Chase & Co. lowered their price target on shares of Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a report on Monday, September 23rd. Morgan Stanley lowered Vale from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $14.50 to $11.30 in a report on Thursday. Finally, Wolfe Research downgraded Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. 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. Based on data from MarketBeat, Vale has an average rating of “Hold” and an average target price of $14.38.

Vale Stock Performance

NYSE:VALE opened at $9.26 on Friday. Vale S.A. has a 52-week low of $9.22 and a 52-week high of $16.08. The business’s fifty day moving average is $10.33 and its 200 day moving average is $10.72. 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 firm has a market cap of $41.51 billion, a price-to-earnings ratio of 4.29, a PEG ratio of 0.27 and a beta of 0.91.

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