abrdn plc Lowers Stock Holdings in Vale S.A. (NYSE:VALE)

abrdn plc lowered its position in shares of Vale S.A. (NYSE:VALE) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,773,670 shares of the basic materials company’s stock after selling 13,200 shares during the period. abrdn plc owned 0.08% of Vale worth $44,397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacifica Partners Inc. purchased a new stake in shares of Vale in the 2nd quarter valued at about $27,000. Lowe Wealth Advisors LLC bought a new position in shares of Vale in the second quarter worth approximately $45,000. Deuterium Capital Management LLC purchased a new stake in Vale in the first quarter valued at approximately $122,000. Keynote Financial Services LLC bought a new stake in Vale during the first quarter valued at approximately $126,000. Finally, Vawter Financial Ltd. purchased a new position in Vale in the 2nd quarter worth approximately $124,000. Institutional investors own 21.85% of the company’s stock.

Vale Price Performance

VALE opened at $10.81 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.08 and a quick ratio of 0.73. Vale S.A. has a 1 year low of $9.66 and a 1 year high of $16.08. The stock’s 50 day simple moving average is $10.78 and its 200 day simple moving average is $11.26. The firm has a market cap of $48.46 billion, a price-to-earnings ratio of 5.97, a PEG ratio of 0.30 and a beta of 0.93.

Vale (NYSE:VALE) last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.41 by $0.15. The company had revenue of $9.55 billion for the quarter, compared to the consensus estimate of $9.61 billion. Vale had a net margin of 23.07% and a return on equity of 22.23%. During the same period in the previous year, the firm earned $0.66 earnings per share. As a group, analysts predict that Vale S.A. will post 2.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on VALE shares. StockNews.com assumed coverage on shares of Vale in a research report on Friday, October 18th. They set a “buy” rating on the stock. Morgan Stanley lowered their price target on Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research report on Thursday, September 19th. Scotiabank dropped their price target on Vale from $17.00 to $16.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 15th. UBS Group reduced their price objective on Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a research report on Friday, July 5th. Finally, JPMorgan Chase & Co. dropped their target price on Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.17.

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.