Capital World Investors Has $349.99 Million Stock Holdings in Vale S.A. (NYSE:VALE)

Capital World Investors lowered its position in Vale S.A. (NYSE:VALE) by 37.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 28,711,282 shares of the basic materials company’s stock after selling 17,087,069 shares during the period. Capital World Investors’ holdings in Vale were worth $349,991,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in VALE. Whittier Trust Co. raised its holdings in shares of Vale by 423.1% in the fourth quarter. Whittier Trust Co. now owns 1,951 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 1,578 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Vale by 28.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 142,814 shares of the basic materials company’s stock valued at $2,265,000 after purchasing an additional 31,684 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Vale by 3.1% in the fourth quarter. Pacer Advisors Inc. now owns 92,624 shares of the basic materials company’s stock valued at $1,469,000 after purchasing an additional 2,750 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Vale by 34.9% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 17,392 shares of the basic materials company’s stock valued at $276,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in Vale in the fourth quarter worth about $3,403,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays lifted their price objective on shares of Vale from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. StockNews.com assumed coverage on shares of Vale in a research report on Saturday, March 30th. They issued a “buy” rating on the stock. Bank of America reaffirmed a “neutral” rating and issued a $13.00 price objective (down previously from $20.00) on shares of Vale in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Vale from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Thursday, April 4th. Finally, Morgan Stanley lowered their price objective on shares of Vale from $18.00 to $15.50 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.85.

Vale Stock Performance

Shares of VALE traded up $0.16 during trading hours on Friday, hitting $10.86. The company’s stock had a trading volume of 25,627,142 shares, compared to its average volume of 25,014,442. The business has a 50 day simple moving average of $11.51 and a two-hundred day simple moving average of $12.45. The company has a market cap of $48.69 billion, a price-to-earnings ratio of 6.00, a PEG ratio of 3.56 and a beta of 0.96. Vale S.A. has a 52-week low of $10.64 and a 52-week high of $16.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.12 and a quick ratio of 0.79.

Vale (NYSE:VALE) last issued its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). The firm had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Vale had a net margin of 23.07% and a return on equity of 22.03%. On average, equities analysts expect that Vale S.A. will post 2.18 earnings per share for the current fiscal year.

Vale 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.