Vale S.A. (NYSE:VALE) Shares Sold by Stifel Financial Corp

Stifel Financial Corp decreased its position in Vale S.A. (NYSE:VALE) by 59.0% in the third quarter, Holdings Channel reports. The institutional investor owned 169,154 shares of the basic materials company’s stock after selling 243,273 shares during the period. Stifel Financial Corp’s holdings in Vale were worth $1,976,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of VALE. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Vale by 6.3% during 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 acquiring an additional 468,432 shares during the period. Bank of Montreal Can boosted its position in Vale by 274.4% during the third quarter. Bank of Montreal Can now owns 162,453 shares of the basic materials company’s stock worth $1,915,000 after purchasing an additional 119,061 shares in the last quarter. Bridgewater Associates LP grew its holdings in 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 period. Polar Asset Management Partners Inc. purchased a new stake in shares of Vale in the third quarter valued at approximately $1,422,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Vale during the 3rd quarter worth approximately $1,126,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Price Performance

VALE stock opened at $8.78 on Friday. Vale S.A. has a 52-week low of $8.69 and a 52-week high of $16.08. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. The stock has a market cap of $39.36 billion, a price-to-earnings ratio of 4.06, a price-to-earnings-growth ratio of 0.27 and a beta of 0.91. The business has a fifty day moving average of $10.16 and a two-hundred day moving average of $10.65.

Vale (NYSE:VALE) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.55 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same period in the previous year, the firm earned $0.66 EPS. As a group, research analysts anticipate that Vale S.A. will post 2.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VALE. Wolfe Research lowered shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. Morgan Stanley cut Vale from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $14.50 to $11.30 in a report on Thursday, December 12th. Barclays reduced their target price on Vale from $16.00 to $15.25 and set an “overweight” rating for the company in a report on Wednesday, December 4th. UBS Group lowered Vale from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $14.00 to $11.50 in a research note on Monday, November 11th. Finally, Scotiabank reduced their price objective 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Vale presently has an average rating of “Hold” and a consensus target price 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.