Neuberger Berman Group LLC Has $1.11 Million Stock Position in Vale S.A. $VALE

Neuberger Berman Group LLC reduced its position in shares of Vale S.A. (NYSE:VALE) by 3.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 114,329 shares of the basic materials company’s stock after selling 4,492 shares during the quarter. Neuberger Berman Group LLC’s holdings in Vale were worth $1,110,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Vontobel Holding Ltd. grew its holdings in Vale by 59.5% during the second quarter. Vontobel Holding Ltd. now owns 97,506 shares of the basic materials company’s stock valued at $947,000 after purchasing an additional 36,372 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Vale by 11.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 529,967 shares of the basic materials company’s stock worth $5,019,000 after purchasing an additional 55,543 shares during the period. Royal Bank of Canada boosted its position in shares of Vale by 37.8% during the first quarter. Royal Bank of Canada now owns 1,463,665 shares of the basic materials company’s stock worth $14,608,000 after purchasing an additional 401,614 shares in the last quarter. Ascent Group LLC grew its holdings in shares of Vale by 197.2% in the 1st quarter. Ascent Group LLC now owns 59,968 shares of the basic materials company’s stock valued at $598,000 after buying an additional 39,791 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Vale by 25.9% in the 1st quarter. Rhumbline Advisers now owns 166,125 shares of the basic materials company’s stock valued at $1,658,000 after buying an additional 34,185 shares in the last quarter. Institutional investors own 21.85% of the company’s stock.

Vale Stock Up 1.2%

Vale stock opened at $12.67 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. Vale S.A. has a 1-year low of $8.06 and a 1-year high of $12.72. The company has a fifty day simple moving average of $11.61 and a 200 day simple moving average of $10.50. The company has a market cap of $57.49 billion, a P/E ratio of 10.30 and a beta of 0.82.

Vale (NYSE:VALE) last posted its quarterly earnings data on Thursday, October 30th. The basic materials company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.14. The company had revenue of $10.42 billion during the quarter, compared to the consensus estimate of $10.39 billion. Vale had a net margin of 14.23% and a return on equity of 18.14%. Research analysts anticipate that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on VALE. Scotiabank upgraded Vale from a “sector perform” rating to a “sector outperform” rating and set a $14.00 target price on the stock in a report on Thursday, September 18th. Barclays boosted their price objective on Vale from $13.80 to $14.50 and gave the company an “overweight” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. raised their target price on shares of Vale from $13.50 to $14.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. HSBC upped their price target on shares of Vale from $12.25 to $13.50 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, UBS Group raised their price objective on shares of Vale from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Vale presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.61.

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.