US Bancorp DE Sells 34,929 Shares of Vale S.A. (NYSE:VALE)

US Bancorp DE trimmed its position in shares of Vale S.A. (NYSE:VALE) by 38.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,287 shares of the basic materials company’s stock after selling 34,929 shares during the period. US Bancorp DE’s holdings in Vale were worth $657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SPX Gestao de Recursos Ltda grew its position in Vale by 60.6% in the second quarter. SPX Gestao de Recursos Ltda now owns 21,969,937 shares of the basic materials company’s stock worth $245,404,000 after acquiring an additional 8,288,112 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Vale by 4.1% in the 1st quarter. Lazard Asset Management LLC now owns 12,269,261 shares of the basic materials company’s stock valued at $149,561,000 after purchasing an additional 485,702 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Vale by 27.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,853,914 shares of the basic materials company’s stock valued at $132,408,000 after purchasing an additional 2,578,900 shares during the last quarter. Mondrian Investment Partners LTD increased its position in shares of Vale by 20.4% during the 2nd quarter. Mondrian Investment Partners LTD now owns 10,950,729 shares of the basic materials company’s stock valued at $118,815,000 after purchasing an additional 1,854,940 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Vale by 395.3% during the 2nd quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock valued at $79,889,000 after purchasing an additional 5,707,969 shares during the last quarter. 21.85% of the stock is currently owned by institutional investors.

Vale Stock Down 5.5 %

Shares of NYSE VALE opened at $10.59 on Monday. The stock has a 50 day moving average price of $10.81 and a 200 day moving average price of $11.20. The firm has a market capitalization of $47.48 billion, a price-to-earnings ratio of 4.90, a PEG ratio of 0.29 and a beta of 0.94. Vale S.A. has a 52-week low of $9.66 and a 52-week high of $16.08. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91.

Vale (NYSE:VALE) last issued its 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. The business had revenue of $9.55 billion during the quarter, compared to analyst estimates of $9.61 billion. Vale had a return on equity of 21.07% and a net margin of 22.59%. During the same period in the previous year, the company posted $0.66 EPS. Sell-side analysts expect that Vale S.A. will post 2.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on VALE shares. Wolfe Research downgraded Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. StockNews.com began coverage on shares of Vale in a research note on Friday, October 18th. They set a “buy” rating for the company. Scotiabank reduced their price objective on shares of Vale from $17.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their price objective on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research note on Monday, September 23rd. Finally, Morgan Stanley cut their target price on Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Vale has a consensus rating of “Moderate Buy” and an average target price of $16.17.

About Vale

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.