Vale S.A. (NYSE:VALE) Stock Holdings Lifted by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. boosted its holdings in Vale S.A. (NYSE:VALE) by 123.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,059,814 shares of the basic materials company’s stock after purchasing an additional 6,660,933 shares during the quarter. Vale makes up 4.6% of Itau Unibanco Holding S.A.’s portfolio, making the stock its 6th biggest holding. Itau Unibanco Holding S.A. owned approximately 0.27% of Vale worth $140,859,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Vale by 3,692.5% in the third 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 purchasing an additional 17,720,100 shares during the last quarter. SPX Gestao de Recursos Ltda raised its holdings in 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 period. Holocene Advisors LP bought a new stake in shares of Vale during the third quarter worth $80,300,000. Marshall Wace LLP lifted its holdings in shares of Vale by 395.3% during the second quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock worth $79,889,000 after purchasing an additional 5,707,969 shares during the period. Finally, FMR LLC raised its holdings in shares of Vale by 18.2% during 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 during the period. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Price Performance

Shares of NYSE VALE opened at $9.79 on Tuesday. The stock has a 50 day moving average of $10.69 and a two-hundred day moving average of $10.93. Vale S.A. has a twelve month low of $9.64 and a twelve month high of $16.08. The stock has a market cap of $43.87 billion, a P/E ratio of 4.53, a P/E/G ratio of 0.26 and a beta of 0.91. The company has a current ratio of 0.91, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39.

Vale (NYSE:VALE) last released its earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. Vale had a return on equity of 21.07% and a net margin of 22.59%. The company 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 business posted $0.66 EPS. On average, research analysts forecast that Vale S.A. will post 2.13 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on VALE shares. JPMorgan Chase & Co. reduced their target price on shares of Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a report on Monday, September 23rd. UBS Group lowered shares of 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 report on Monday, November 11th. Wolfe Research lowered shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. StockNews.com started coverage on Vale in a research report on Friday, October 18th. They set a “buy” rating for the company. Finally, Scotiabank reduced their price target on Vale from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.13.

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.