abrdn plc Sells 13,200 Shares of Vale S.A. (NYSE:VALE)

abrdn plc lessened its holdings in shares of Vale S.A. (NYSE:VALE) by 0.3% in the third quarter, Holdings Channel.com reports. The fund owned 3,773,670 shares of the basic materials company’s stock after selling 13,200 shares during the period. abrdn plc’s holdings in Vale were worth $44,397,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ballentine Partners LLC increased its position in Vale by 7.8% during 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 during the period. Legacy Capital Group California Inc. increased its position in shares of 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 valued at $200,000 after buying an additional 1,154 shares during the period. Bank of New York Mellon Corp raised its stake in Vale by 1.9% in 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 buying an additional 1,187 shares in the last quarter. Inspire Advisors LLC lifted its holdings in Vale by 6.8% in the first quarter. Inspire Advisors LLC now owns 19,277 shares of the basic materials company’s stock worth $235,000 after buying an additional 1,226 shares during the period. Finally, IFG Advisory LLC boosted its position in Vale by 6.1% during the 2nd quarter. IFG Advisory LLC now owns 22,702 shares of the basic materials company’s stock valued at $254,000 after acquiring an additional 1,296 shares in the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Stock Down 0.7 %

Shares of Vale stock opened at $10.81 on Thursday. The company has a 50-day simple moving average of $10.78 and a two-hundred day simple moving average of $11.26. The stock has a market capitalization of $48.46 billion, a PE ratio of 5.97, a price-to-earnings-growth ratio of 0.30 and a beta of 0.93. Vale S.A. has a 52-week low of $9.66 and a 52-week high of $16.08. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.73 and a current ratio of 1.08.

Vale (NYSE:VALE) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.15. The company had revenue of $9.55 billion during the quarter, compared to the consensus estimate of $9.61 billion. Vale had a net margin of 23.07% and a return on equity of 22.23%. During the same quarter last year, the firm earned $0.66 earnings per share. On average, analysts anticipate that Vale S.A. will post 2.06 EPS for the current fiscal year.

Analysts Set New Price Targets

VALE has been the subject of several research reports. UBS Group decreased their target price on Vale from $15.00 to $14.50 and set a “buy” rating for the company in a research report on Friday, July 5th. Morgan Stanley decreased their price objective on Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a report on Thursday, September 19th. Scotiabank dropped their target price 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. StockNews.com assumed coverage on shares of Vale in a research note on Friday, October 18th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, September 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Vale presently has an average rating of “Moderate Buy” and an average price target of $16.17.

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.