Raymond James & Associates Acquires 84,767 Shares of Vale S.A. (NYSE:VALE)

Raymond James & Associates grew its holdings in shares of Vale S.A. (NYSE:VALE) by 7.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,162,330 shares of the basic materials company’s stock after buying an additional 84,767 shares during the quarter. Raymond James & Associates’ holdings in Vale were worth $13,576,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. SPX Gestao de Recursos Ltda boosted its stake in shares of Vale by 60.6% during the 2nd quarter. SPX Gestao de Recursos Ltda now owns 21,969,937 shares of the basic materials company’s stock worth $245,404,000 after purchasing an additional 8,288,112 shares during the period. Lazard Asset Management LLC grew its stake in shares of 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 valued at $149,561,000 after buying an additional 485,702 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Vale by 27.8% in the second 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 period. Mondrian Investment Partners LTD lifted its stake in shares of Vale by 20.4% during the 2nd quarter. Mondrian Investment Partners LTD now owns 10,950,729 shares of the basic materials company’s stock worth $118,815,000 after acquiring an additional 1,854,940 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in Vale by 395.3% during the 2nd quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock valued at $79,889,000 after acquiring an additional 5,707,969 shares during the period. Institutional investors own 21.85% of the company’s stock.

Vale Stock Performance

VALE opened at $10.88 on Monday. The stock has a market cap of $48.78 billion, a P/E ratio of 6.01, a P/E/G ratio of 0.30 and a beta of 0.93. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.08 and a quick ratio of 0.73. The firm has a fifty day moving average price of $10.76 and a 200 day moving average price of $11.28. Vale S.A. has a 1 year low of $9.66 and a 1 year high of $16.08.

Vale (NYSE:VALE) last announced its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. Vale had a return on equity of 22.23% and a net margin of 23.07%. The firm had revenue of $9.92 billion during the quarter, compared to analyst estimates of $9.97 billion. Equities research analysts anticipate that Vale S.A. will post 2.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wolfe Research lowered shares of Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. Scotiabank decreased their price target on shares of Vale from $17.00 to $16.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 15th. JPMorgan Chase & Co. dropped their price objective on Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, September 23rd. UBS Group decreased their target price on Vale from $15.00 to $14.50 and set a “buy” rating for the company in a research report on Friday, July 5th. Finally, StockNews.com started coverage on Vale in a research report on Friday, October 18th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.15.

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.