International Assets Investment Management LLC Sells 30,966 Shares of Vale S.A. (NYSE:VALE)

International Assets Investment Management LLC reduced its stake in shares of Vale S.A. (NYSE:VALE) by 69.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,624 shares of the basic materials company’s stock after selling 30,966 shares during the quarter. International Assets Investment Management LLC’s holdings in Vale were worth $165,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Park Avenue Securities LLC grew its stake in shares of Vale by 6.8% during the first quarter. Park Avenue Securities LLC now owns 59,302 shares of the basic materials company’s stock valued at $723,000 after purchasing an additional 3,783 shares during the last quarter. Founders Capital Management grew its stake in shares of Vale by 111.1% during the first quarter. Founders Capital Management now owns 3,800 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 2,000 shares during the last quarter. CWM LLC grew its stake in shares of Vale by 352.9% during the first quarter. CWM LLC now owns 16,752 shares of the basic materials company’s stock valued at $204,000 after purchasing an additional 13,053 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Vale during the first quarter valued at approximately $26,000. Finally, Confluence Investment Management LLC bought a new stake in shares of Vale during the first quarter valued at approximately $162,000. 21.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VALE. JPMorgan Chase & Co. reduced their price objective on shares of Vale from $20.50 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Vale from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Thursday, April 4th. Morgan Stanley reduced their price objective on shares of Vale from $18.00 to $15.50 and set an “overweight” rating on the stock in a research note on Friday, June 21st. StockNews.com initiated coverage on shares of Vale in a research report on Saturday, March 30th. They set a “buy” rating on the stock. Finally, Barclays raised their price objective on shares of Vale from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.55.

Vale Stock Up 0.2 %

Vale stock opened at $11.13 on Thursday. The firm has a market capitalization of $49.87 billion, a PE ratio of 6.15, a P/E/G ratio of 4.90 and a beta of 0.98. The company’s 50-day moving average is $12.05 and its 200-day moving average is $13.09. Vale S.A. has a fifty-two week low of $11.02 and a fifty-two week high of $16.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.12 and a quick ratio of 0.79.

Vale (NYSE:VALE) last released its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.35 billion. Vale had a return on equity of 19.59% and a net margin of 18.72%. Sell-side analysts anticipate that Vale S.A. will post 2.18 earnings per share for the current 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.