Vale S.A. $VALE Stock Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Vale S.A. (NYSE:VALE) by 24.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 165,486 shares of the basic materials company’s stock after selling 53,215 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Vale were worth $2,219,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. NewEdge Wealth LLC grew its stake in shares of Vale by 2.8% in the first quarter. NewEdge Wealth LLC now owns 25,799 shares of the basic materials company’s stock valued at $410,000 after buying an additional 708 shares in the last quarter. Foster Group Inc. lifted its stake in Vale by 6.9% during the 3rd quarter. Foster Group Inc. now owns 11,697 shares of the basic materials company’s stock worth $157,000 after acquiring an additional 758 shares in the last quarter. Signaturefd LLC lifted its stake in Vale by 2.4% during the 3rd quarter. Signaturefd LLC now owns 36,105 shares of the basic materials company’s stock worth $484,000 after acquiring an additional 847 shares in the last quarter. ProShare Advisors LLC lifted its stake in Vale by 7.1% during the 3rd quarter. ProShare Advisors LLC now owns 15,980 shares of the basic materials company’s stock worth $214,000 after acquiring an additional 1,053 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its holdings in Vale by 5.7% during the 3rd quarter. Moody National Bank Trust Division now owns 19,659 shares of the basic materials company’s stock valued at $264,000 after acquiring an additional 1,058 shares during the period. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

Vale Stock Up 1.3%

Vale stock opened at $11.59 on Friday. Vale S.A. has a twelve month low of $10.96 and a twelve month high of $17.94. The stock’s fifty day simple moving average is $13.50 and its 200-day simple moving average is $15.16. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $52.63 billion, a P/E ratio of 77.30 and a beta of 0.50.

Vale (NYSE:VALE) last released its earnings results on Thursday, October 29th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09). The company had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.45 billion. Vale had a net margin of 1.64% and a return on equity of 16.54%. As a group, equities analysts expect that Vale S.A. will post 1.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VALE has been the subject of several research reports. Barclays dropped their target price on Vale from $15.00 to $14.50 and set an “equal weight” rating for the company in a research report on Monday, November 2nd. JPMorgan Chase & Co. boosted their price target on shares of Vale from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 30th. UBS Group reduced their price target on shares of Vale from $14.50 to $13.50 and set a “neutral” rating on the stock in a research report on Monday, November 2nd. Sanford C. Bernstein raised their price objective on shares of Vale from $12.00 to $12.50 and gave the company a “market perform” rating in a research note on Wednesday, September 9th. Finally, The Goldman Sachs Group cut shares of Vale from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $16.00 in a report on Monday, July 27th. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.96.

Vale Company Profile

Vale SA is a Brazilian mining and logistics company best known for producing iron ore and iron ore pellets, which are used in steelmaking. Its other products include nickel, copper, cobalt and manganese, serving customers in the steel, energy and technology industries.

Founded in 1942 as Companhia Vale do Rio Doce, the company is headquartered in Rio de Janeiro. Its operations and projects span several countries, including Brazil, Canada and Indonesia.

In addition to mining, Vale operates railways, ports and other logistics infrastructure that support the transportation of its products.