US Bancorp DE Sells 34,929 Shares of Vale S.A. (NYSE:VALE)

US Bancorp DE lessened its stake in shares of Vale S.A. (NYSE:VALE) by 38.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,287 shares of the basic materials company’s stock after selling 34,929 shares during the quarter. US Bancorp DE’s holdings in Vale were worth $657,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacifica Partners Inc. bought a new position in shares of Vale during the 2nd quarter worth approximately $27,000. Lowe Wealth Advisors LLC acquired a new position in shares of Vale during the second quarter worth $45,000. Vawter Financial Ltd. purchased a new stake in shares of Vale during the 2nd quarter valued at $124,000. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Vale in the 2nd quarter worth $125,000. Finally, Keynote Financial Services LLC purchased a new position in Vale during the 1st quarter worth $126,000. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

Vale Trading Down 5.5 %

Shares of Vale stock opened at $10.59 on Monday. 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 current ratio of 0.91 and a quick ratio of 0.58. The stock has a market cap of $47.48 billion, a PE ratio of 4.90, a price-to-earnings-growth ratio of 0.29 and a beta of 0.94. The firm has a fifty day moving average price of $10.81 and a 200 day moving average price of $11.20.

Vale (NYSE:VALE) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.15. Vale had a return on equity of 21.07% and a net margin of 22.59%. The business had revenue of $9.55 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. Equities research analysts predict that Vale S.A. will post 2.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VALE has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a report on Thursday, September 19th. Wolfe Research downgraded shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price target 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. Scotiabank lowered their price objective on shares of Vale from $17.00 to $16.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 15th. Finally, StockNews.com started coverage on Vale in a research report on Friday, October 18th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Vale has an average rating of “Moderate Buy” and a consensus target price 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.