Bank of Nova Scotia lowered its holdings in Vale S.A. (NYSE:VALE – Get Rating) by 94.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,300 shares of the basic materials company’s stock after selling 408,390 shares during the period. Bank of Nova Scotia’s holdings in Vale were worth $396,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. CAPROCK Group Inc. acquired a new stake in shares of Vale in the third quarter worth $160,000. Putnam Investments LLC boosted its stake in shares of Vale by 6.0% in the third quarter. Putnam Investments LLC now owns 145,015 shares of the basic materials company’s stock valued at $1,932,000 after purchasing an additional 8,237 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in shares of Vale by 527.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 4,000 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 3,362 shares during the period. SG Americas Securities LLC boosted its stake in shares of Vale by 1,441.9% in the fourth quarter. SG Americas Securities LLC now owns 314,202 shares of the basic materials company’s stock valued at $5,332,000 after purchasing an additional 293,824 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of Vale by 27.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,065,826 shares of the basic materials company’s stock valued at $18,087,000 after purchasing an additional 231,037 shares during the period. Institutional investors and hedge funds own 20.58% of the company’s stock.
Vale Trading Down 1.7 %
Vale stock opened at $13.12 on Thursday. The firm’s 50-day moving average is $14.74 and its 200-day moving average is $16.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.73 and a current ratio of 1.12. Vale S.A. has a 1 year low of $11.72 and a 1 year high of $19.31. The company has a market cap of $58.82 billion, a P/E ratio of 3.72 and a beta of 0.87.
Vale (NYSE:VALE – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.16). Vale had a return on equity of 38.16% and a net margin of 38.99%. The business had revenue of $8.43 billion during the quarter, compared to the consensus estimate of $10.09 billion. On average, equities analysts expect that Vale S.A. will post 2.67 earnings per share for the current year.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. Royal Bank of Canada downgraded shares of Vale from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $16.00 to $15.00 in a research note on Monday, February 6th. JPMorgan Chase & Co. downgraded shares of Vale from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $20.00 to $17.50 in a research note on Thursday, February 9th. Morgan Stanley decreased their target price on shares of Vale from $19.00 to $18.00 in a research note on Friday, April 28th. Citigroup downgraded shares of Vale from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $16.00 in a research note on Monday, April 17th. Finally, StockNews.com began coverage on shares of Vale in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.50.
About Vale
Vale SA engages in the production and exportation of iron ore, pellets, manganese, and iron alloys. It operates through the following segments: Ferrous Minerals, Base Metals, and Coal. The Ferrous Minerals segment includes the production and extraction of iron ore, iron ore pellets, manganese, other ferrous products, and logistic services.