First Hawaiian Bank Reduces Stock Position in Vale S.A. (NYSE:VALE)

First Hawaiian Bank cut its stake in shares of Vale S.A. (NYSE:VALE) by 20.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,451 shares of the basic materials company’s stock after selling 8,828 shares during the period. First Hawaiian Bank’s holdings in Vale were worth $420,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in Vale by 85.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 491,207 shares of the basic materials company’s stock valued at $7,791,000 after acquiring an additional 225,806 shares during the period. Oaktree Capital Management LP boosted its holdings in shares of Vale by 8.1% in the fourth quarter. Oaktree Capital Management LP now owns 9,399,887 shares of the basic materials company’s stock worth $149,082,000 after buying an additional 705,520 shares during the last quarter. Blue Trust Inc. grew its position in Vale by 10.2% during the fourth quarter. Blue Trust Inc. now owns 10,097 shares of the basic materials company’s stock valued at $160,000 after buying an additional 932 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Vale by 49,161.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,440,413 shares of the basic materials company’s stock valued at $38,705,000 after buying an additional 2,435,459 shares during the last quarter. Finally, M&T Bank Corp purchased a new position in shares of Vale during the 4th quarter worth $190,000. 21.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Vale from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Thursday, April 4th. JPMorgan Chase & Co. cut their price objective on Vale from $20.50 to $20.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Bank of America restated a “neutral” rating and set a $13.00 target price (down previously from $20.00) on shares of Vale in a research note on Tuesday, April 9th. Morgan Stanley dropped their price target on shares of Vale from $18.00 to $15.50 and set an “overweight” rating for the company in a research report on Friday. Finally, Barclays raised their price objective on shares of Vale from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.55.

Vale Price Performance

NYSE:VALE opened at $11.24 on Friday. The company has a market capitalization of $50.39 billion, a P/E ratio of 6.21, a P/E/G ratio of 4.94 and a beta of 0.98. The business’s 50-day moving average is $12.08 and its 200 day moving average is $13.16. The company has a current ratio of 1.12, a quick ratio of 0.79 and a debt-to-equity ratio of 0.41. Vale S.A. has a 12 month low of $11.02 and a 12 month high of $16.08.

Vale (NYSE:VALE) last issued its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). Vale had a return on equity of 19.59% and a net margin of 18.72%. The firm had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.35 billion. On average, equities research analysts forecast that Vale S.A. will post 2.18 earnings per share for the current fiscal year.

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.