Advisors Asset Management Inc. Buys 32,462 Shares of Vale S.A. (NYSE:VALE)

Advisors Asset Management Inc. increased its holdings in Vale S.A. (NYSE:VALE) by 15.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,220 shares of the basic materials company’s stock after acquiring an additional 32,462 shares during the period. Advisors Asset Management Inc.’s holdings in Vale were worth $2,782,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in Vale by 6.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,951,020 shares of the basic materials company’s stock valued at $92,868,000 after buying an additional 468,432 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Vale during the third quarter valued at about $4,606,000. Northwest Bancshares Inc. purchased a new position in shares of Vale in the third quarter worth $4,663,000. Segall Bryant & Hamill LLC lifted its stake in Vale by 62.4% in the third quarter. Segall Bryant & Hamill LLC now owns 108,774 shares of the basic materials company’s stock worth $1,270,000 after acquiring an additional 41,800 shares during the period. Finally, West Family Investments Inc. grew its stake in Vale by 20.4% in the third quarter. West Family Investments Inc. now owns 20,256 shares of the basic materials company’s stock worth $237,000 after purchasing an additional 3,431 shares during the period. 21.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on VALE shares. 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 report on Monday, September 23rd. StockNews.com started coverage on Vale in a report on Friday, October 18th. They set a “buy” rating for the company. Scotiabank dropped their price objective on shares of Vale from $16.00 to $14.00 and set a “sector perform” rating for the company in a research note on Wednesday. UBS Group cut shares of Vale from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $14.00 to $11.50 in a research report on Monday, November 11th. Finally, Morgan Stanley dropped their price objective on shares of Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Vale presently has a consensus rating of “Hold” and an average price target of $15.13.

Vale Stock Up 0.6 %

Shares of Vale stock opened at $10.02 on Friday. 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 S.A. has a fifty-two week low of $9.66 and a fifty-two week high of $16.08. The business has a 50-day moving average price of $10.76 and a 200 day moving average price of $11.03. The firm has a market cap of $44.92 billion, a P/E ratio of 4.64, a P/E/G ratio of 0.27 and a beta of 0.94.

Vale (NYSE:VALE) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. The business had revenue of $9.55 billion for the quarter, compared to analyst estimates of $9.61 billion. Vale had a net margin of 22.59% and a return on equity of 21.07%. During the same quarter in the previous year, the business earned $0.66 earnings per share. On average, sell-side analysts forecast that Vale S.A. will post 2.12 earnings per share 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.