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State Street Corp Purchases 507,245 Shares of Vale S.A. (NYSE:VALE)

Vale logo with Basic Materials background

State Street Corp lifted its position in shares of Vale S.A. (NYSE:VALE - Free Report) by 4.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 11,117,942 shares of the basic materials company's stock after buying an additional 507,245 shares during the period. State Street Corp owned 0.25% of Vale worth $129,858,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Vale during the third quarter worth approximately $28,000. Point72 Hong Kong Ltd purchased a new position in Vale in the 3rd quarter valued at about $36,000. Phillips Wealth Planners LLC acquired a new stake in shares of Vale during the third quarter valued at about $118,000. Vawter Financial Ltd. purchased a new stake in shares of Vale during the second quarter worth about $124,000. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in shares of Vale during the second quarter worth about $125,000. Hedge funds and other institutional investors own 21.85% of the company's stock.

Vale Price Performance

Shares of Vale stock traded down $0.21 during mid-day trading on Friday, reaching $9.26. 27,085,145 shares of the stock were exchanged, compared to its average volume of 27,648,803. The firm has a 50-day simple moving average of $10.33 and a 200 day simple moving average of $10.72. 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 fifty-two week low of $9.22 and a fifty-two week high of $16.08. The company has a market cap of $41.51 billion, a price-to-earnings ratio of 4.29, a price-to-earnings-growth ratio of 0.27 and a beta of 0.91.

Vale (NYSE:VALE - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.41 by $0.15. The company had revenue of $9.55 billion during the quarter, compared to analysts' expectations of $9.61 billion. Vale had a net margin of 22.59% and a return on equity of 21.07%. During the same quarter in the previous year, the company earned $0.66 EPS. On average, sell-side analysts predict that Vale S.A. will post 2.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wolfe Research downgraded Vale from a "peer perform" rating to an "underperform" rating in a research note on Wednesday, October 9th. StockNews.com began coverage on shares of Vale in a research report on Friday. They issued a "buy" rating for the company. JPMorgan Chase & Co. cut their price target on Vale from $16.50 to $15.00 and set an "overweight" rating on the stock in a report on Monday, September 23rd. Barclays decreased their price objective on Vale from $16.00 to $15.25 and set an "overweight" rating for the company in a report on Wednesday, December 4th. Finally, Scotiabank lowered their target price on Vale from $16.00 to $14.00 and set a "sector perform" rating on the stock in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $14.38.

Get Our Latest Research Report on Vale

Vale Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Vale (NYSE:VALE)

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