State Street Corp Has $129.86 Million Position in Vale S.A. (NYSE:VALE)

State Street Corp grew its holdings in Vale S.A. (NYSE:VALE) by 4.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,117,942 shares of the basic materials company’s stock after purchasing an additional 507,245 shares during the quarter. State Street Corp owned about 0.25% of Vale worth $129,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its stake in Vale by 18.2% in the third quarter. FMR LLC now owns 36,605,338 shares of the basic materials company’s stock valued at $427,550,000 after purchasing an additional 5,635,167 shares in the last quarter. SPX Gestao de Recursos Ltda grew its stake in shares of 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 buying an additional 8,288,112 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position 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 buying an additional 17,720,100 shares in the last quarter. Fisher Asset Management LLC raised its stake in 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 worth $203,290,000 after buying an additional 1,682,544 shares during the period. Finally, Itau Unibanco Holding S.A. raised its stake in Vale by 123.4% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 12,059,814 shares of the basic materials company’s stock worth $140,859,000 after buying an additional 6,660,933 shares during the period. Institutional investors own 21.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on VALE. 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. Barclays decreased their price target on shares of Vale from $16.00 to $15.25 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. 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. UBS Group downgraded shares of Vale from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $14.00 to $11.50 in a research report on Monday, November 11th. Finally, Wolfe Research cut shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.38.

Vale Stock Down 2.2 %

Vale stock opened at $9.26 on Friday. Vale S.A. has a fifty-two week low of $9.22 and a fifty-two week high of $16.08. 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’s 50-day simple moving average is $10.33 and its 200 day simple moving average is $10.72. The stock has a market cap of $41.51 billion, a PE ratio of 4.29, a price-to-earnings-growth ratio of 0.27 and a beta of 0.91.

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