Advisors Asset Management Inc. Buys 32,462 Shares of Vale S.A. (NYSE:VALE)

Advisors Asset Management Inc. lifted its holdings in Vale S.A. (NYSE:VALE) by 15.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 238,220 shares of the basic materials company’s stock after acquiring an additional 32,462 shares during the period. Advisors Asset Management Inc.’s holdings in Vale were worth $2,782,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Pacifica Partners Inc. bought a new stake in Vale during the 2nd quarter valued at about $27,000. Lowe Wealth Advisors LLC purchased a new stake in Vale in the 2nd quarter worth approximately $45,000. Phillips Wealth Planners LLC purchased a new stake in shares of Vale in the third quarter valued at approximately $118,000. Vawter Financial Ltd. acquired a new position in shares of Vale during the 2nd quarter worth about $124,000. Finally, Signature Estate & Investment Advisors LLC purchased a new position in shares of Vale in the second quarter worth about $125,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Analysts Set New Price Targets

VALE has been the topic of several recent analyst reports. Scotiabank decreased their price objective on shares of Vale from $16.00 to $14.00 and set a “sector perform” rating on the stock in a report on Wednesday. Morgan Stanley cut 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. StockNews.com assumed coverage on shares of Vale in a research note on Friday, October 18th. They issued a “buy” rating for the company. JPMorgan Chase & Co. lowered their target price on shares of Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, September 23rd. Finally, Wolfe Research downgraded Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.13.

Vale Stock Up 0.6 %

Shares of VALE stock opened at $10.02 on Friday. The stock has a fifty day moving average price of $10.76 and a 200 day moving average price of $11.03. Vale S.A. has a one year low of $9.66 and a one year high of $16.08. The stock has a market cap of $44.92 billion, a P/E ratio of 4.64, a price-to-earnings-growth ratio of 0.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58.

Vale (NYSE:VALE) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. Vale had a return on equity of 21.07% and a net margin of 22.59%. The company had revenue of $9.55 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter in the prior year, the business posted $0.66 EPS. Analysts predict that Vale S.A. will post 2.12 earnings per share for the current year.

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.