Allspring Global Investments Holdings LLC Has $31.72 Million Stock Position in Vale S.A. (NYSE:VALE)

Allspring Global Investments Holdings LLC trimmed its position in Vale S.A. (NYSE:VALE - Free Report) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,571,544 shares of the basic materials company's stock after selling 70,925 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.08% of Vale worth $31,715,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its stake in Vale by 18.2% in the third quarter. FMR LLC now owns 36,605,338 shares of the basic materials company's stock valued at $427,550,000 after acquiring an additional 5,635,167 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Vale by 3,692.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 18,200,000 shares of the basic materials company's stock worth $212,576,000 after buying an additional 17,720,100 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Vale by 10.7% during the third quarter. Fisher Asset Management LLC now owns 17,404,942 shares of the basic materials company's stock worth $203,290,000 after buying an additional 1,682,544 shares during the last quarter. Itau Unibanco Holding S.A. grew its stake in shares of Vale by 123.4% during the third quarter. Itau Unibanco Holding S.A. now owns 12,059,814 shares of the basic materials company's stock worth $140,859,000 after buying an additional 6,660,933 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Vale by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,906,975 shares of the basic materials company's stock worth $139,073,000 after buying an additional 53,061 shares during the last quarter. 21.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

VALE has been the topic of a number of research reports. Scotiabank decreased their target price on shares of Vale from $14.00 to $13.00 and set a "sector perform" rating on the stock in a research note on Monday, January 6th. Wolfe Research raised shares of Vale from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. StockNews.com started coverage on shares of Vale in a research note on Friday, December 13th. They issued a "buy" rating on the stock. Morgan Stanley cut shares of Vale from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $14.50 to $11.30 in a research note on Thursday, December 12th. Finally, Barclays reduced their price objective on shares of Vale from $16.00 to $15.25 and set an "overweight" rating on the stock in a research note on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Vale presently has a consensus rating of "Hold" and an average price target of $13.26.

Vale Trading Up 0.7 %

VALE stock traded up $0.07 during midday trading on Tuesday, hitting $9.83. The stock had a trading volume of 11,246,121 shares, compared to its average volume of 36,320,973. The firm has a market cap of $44.60 billion, a P/E ratio of 4.55, a price-to-earnings-growth ratio of 0.30 and a beta of 0.91. The company has a current ratio of 0.91, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. Vale S.A. has a 1-year low of $8.38 and a 1-year high of $13.76. The business has a fifty day moving average price of $9.08 and a two-hundred day moving average price of $9.99.

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.