Pinebridge Investments LLC Takes $4.64 Million Position in Vale S.A. $VALE

Pinebridge Investments LLC bought a new stake in shares of Vale S.A. (NYSE:VALE) during the fourth quarter, Holdings Channel reports. The fund bought 356,252 shares of the basic materials company’s stock, valued at approximately $4,642,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital World Investors lifted its position in shares of Vale by 13.3% during the 3rd quarter. Capital World Investors now owns 56,457,332 shares of the basic materials company’s stock valued at $613,086,000 after buying an additional 6,643,125 shares in the last quarter. Capital International Investors lifted its position in shares of Vale by 4.3% during the 3rd quarter. Capital International Investors now owns 46,215,387 shares of the basic materials company’s stock valued at $501,715,000 after buying an additional 1,910,266 shares in the last quarter. Invesco Ltd. lifted its holdings in Vale by 16.7% in the 3rd quarter. Invesco Ltd. now owns 28,961,848 shares of the basic materials company’s stock valued at $314,526,000 after purchasing an additional 4,151,563 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Vale by 10.9% in the 3rd quarter. Lazard Asset Management LLC now owns 22,272,507 shares of the basic materials company’s stock valued at $241,879,000 after purchasing an additional 2,192,285 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Vale by 77.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 20,809,302 shares of the basic materials company’s stock valued at $271,145,000 after purchasing an additional 9,103,727 shares in the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Insiders Place Their Bets

In related news, insider Parenti Grazielle Tallia bought 10,464 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was acquired at an average cost of $16.11 per share, with a total value of $168,575.04. Following the purchase, the insider directly owned 10,464 shares of the company’s stock, valued at $168,575.04. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Sobrinho Sami Arap bought 12,990 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was bought at an average cost of $16.11 per share, with a total value of $209,268.90. Following the completion of the purchase, the vice president directly owned 12,990 shares in the company, valued at approximately $209,268.90. The trade was a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VALE. Royal Bank Of Canada lowered Vale from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $14.50 to $15.50 in a report on Thursday, March 12th. JPMorgan Chase & Co. raised their price objective on Vale from $18.50 to $19.50 and gave the company an “overweight” rating in a report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $18.00 price objective on shares of Vale in a report on Friday, May 15th. Wells Fargo & Company decreased their price objective on Vale from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Finally, Bank of America upgraded Vale from a “neutral” rating to a “buy” rating and raised their price objective for the company from $18.00 to $19.00 in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.65.

Vale Trading Down 0.2%

Shares of VALE stock opened at $15.20 on Monday. Vale S.A. has a fifty-two week low of $8.97 and a fifty-two week high of $17.94. The firm has a market capitalization of $68.97 billion, a P/E ratio of 22.68 and a beta of 0.46. The stock’s fifty day moving average is $16.53 and its two-hundred day moving average is $15.29. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 1.24.

Vale (NYSE:VALE) last issued its earnings results on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). Vale had a return on equity of 21.10% and a net margin of 7.21%.The company had revenue of $9.26 billion during the quarter, compared to analyst estimates of $9.53 billion. Research analysts expect that Vale S.A. will post 2.15 earnings per share for the current fiscal year.

Vale Profile

Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.