Moran Wealth Management LLC Reduces Position in Vale S.A. (NYSE:VALE)

Moran Wealth Management LLC lowered its position in shares of Vale S.A. (NYSE:VALE) by 6.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,684 shares of the basic materials company’s stock after selling 1,535 shares during the period. Moran Wealth Management LLC’s holdings in Vale were worth $277,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of VALE. SPX Gestao de Recursos Ltda increased its holdings 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 acquiring an additional 8,288,112 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Vale by 4.1% during the first quarter. Lazard Asset Management LLC now owns 12,269,261 shares of the basic materials company’s stock worth $149,561,000 after purchasing an additional 485,702 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Vale by 27.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,853,914 shares of the basic materials company’s stock worth $132,408,000 after buying an additional 2,578,900 shares during the last quarter. Mondrian Investment Partners LTD boosted its holdings in shares of Vale by 20.4% in the 2nd quarter. Mondrian Investment Partners LTD now owns 10,950,729 shares of the basic materials company’s stock valued at $118,815,000 after buying an additional 1,854,940 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Vale by 6.3% during 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. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Analyst Upgrades and Downgrades

VALE has been the topic of several research reports. UBS Group lowered Vale from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $14.00 to $11.50 in a report on Monday, November 11th. StockNews.com started coverage on shares of Vale in a research report on Friday, October 18th. They issued a “buy” rating for the company. Scotiabank lowered their price objective on shares of Vale from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Morgan Stanley reduced their target price on shares of Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. reduced their price objective on Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.13.

Vale Trading Up 0.5 %

NYSE:VALE opened at $10.01 on Friday. The company has a market capitalization of $44.88 billion, a PE ratio of 4.63, a price-to-earnings-growth ratio of 0.27 and a beta of 0.94. Vale S.A. has a 52-week low of $9.66 and a 52-week high of $16.08. The stock has a fifty day simple moving average of $10.76 and a 200-day simple moving average of $11.04. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39.

Vale (NYSE:VALE) last announced its earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, topping 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 company 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 business posted $0.66 earnings per share. On average, equities research analysts expect that Vale S.A. will post 2.12 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.