Vale S.A. (NYSE:VALE) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lessened its position in Vale S.A. (NYSE:VALE) by 14.6% during the third quarter, Holdings Channel reports. The institutional investor owned 34,368 shares of the basic materials company’s stock after selling 5,859 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Vale were worth $401,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of VALE. Point72 Asia Singapore Pte. Ltd. bought a new stake in Vale during the third quarter worth approximately $28,000. Point72 Hong Kong Ltd acquired a new stake in shares of Vale during the 3rd quarter valued at $36,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Vale during the 3rd quarter worth $79,000. Vienna Asset Management LLC acquired a new position in shares of Vale in the 3rd quarter worth $117,000. Finally, Phillips Wealth Planners LLC acquired a new stake in shares of Vale during the third quarter worth $118,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VALE. Barclays dropped their price target on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. UBS Group downgraded shares of Vale from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $14.00 to $11.50 in a research report on Monday, November 11th. JPMorgan Chase & Co. reduced 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. Wolfe Research cut shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley downgraded shares of Vale from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $14.50 to $11.30 in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.38.

Vale Price Performance

VALE opened at $9.11 on Tuesday. The stock has a fifty day moving average price of $10.28 and a 200 day moving average price of $10.69. 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 S.A. has a 1 year low of $9.09 and a 1 year high of $16.08. The stock has a market cap of $40.84 billion, a price-to-earnings ratio of 4.22, a PEG ratio of 0.27 and a beta of 0.91.

Vale (NYSE:VALE) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.41 by $0.15. Vale had a return on equity of 21.07% and a net margin of 22.59%. The business 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 EPS. Analysts forecast that Vale S.A. will post 2.08 EPS for the current fiscal year.

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.