The Manufacturers Life Insurance Company Sells 7,200 Shares of Vale S.A. (NYSE:VALE)

The Manufacturers Life Insurance Company lowered its stake in Vale S.A. (NYSE:VALE) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,509,134 shares of the basic materials company’s stock after selling 7,200 shares during the period. The Manufacturers Life Insurance Company’s holdings in Vale were worth $17,627,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in VALE. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Vale by 6.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,951,020 shares of the basic materials company’s stock worth $92,868,000 after acquiring an additional 468,432 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Vale by 1,680.0% in the third quarter. International Assets Investment Management LLC now owns 242,514 shares of the basic materials company’s stock worth $2,833,000 after purchasing an additional 228,890 shares in the last quarter. Banco Santander S.A. lifted its position in Vale by 32.9% during the third quarter. Banco Santander S.A. now owns 382,082 shares of the basic materials company’s stock valued at $4,463,000 after buying an additional 94,585 shares during the period. Cetera Advisors LLC boosted its holdings in shares of Vale by 109.1% during the 1st quarter. Cetera Advisors LLC now owns 101,406 shares of the basic materials company’s stock valued at $1,236,000 after buying an additional 52,906 shares in the last quarter. Finally, Marshall Wace LLP grew its position in shares of Vale by 395.3% in the 2nd quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock worth $79,889,000 after buying an additional 5,707,969 shares during the period. 21.85% of the stock is owned by hedge funds and other institutional investors.

Vale Trading Down 0.1 %

Vale stock opened at $9.86 on Monday. Vale S.A. has a one year low of $9.64 and a one year high of $16.08. The business’s fifty day moving average is $10.69 and its 200 day moving average is $10.93. The stock has a market capitalization of $44.20 billion, a PE ratio of 4.56, a price-to-earnings-growth ratio of 0.26 and a beta of 0.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58.

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, 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 firm had revenue of $9.55 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter last year, the firm posted $0.66 EPS. On average, sell-side analysts predict that Vale S.A. will post 2.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VALE. JPMorgan Chase & Co. lowered their price target on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research report on Monday, September 23rd. StockNews.com initiated coverage on Vale in a research report on Friday, October 18th. They issued a “buy” rating on the stock. UBS Group lowered Vale from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $14.00 to $11.50 in a research report on Monday, November 11th. Wolfe Research downgraded Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley reduced 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Vale presently has an average rating of “Hold” and a consensus target price of $15.13.

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.