Stifel Financial Corp Sells 243,273 Shares of Vale S.A. (NYSE:VALE)

Stifel Financial Corp trimmed its position in shares of Vale S.A. (NYSE:VALE - Free Report) by 59.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,154 shares of the basic materials company's stock after selling 243,273 shares during the period. Stifel Financial Corp's holdings in Vale were worth $1,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asset Management L.P. raised its position in Vale by 57.0% during the third quarter. Point72 Asset Management L.P. now owns 3,778,126 shares of the basic materials company's stock valued at $44,129,000 after purchasing an additional 1,371,478 shares during the period. Polar Asset Management Partners Inc. bought a new position in shares of Vale during the 3rd quarter valued at approximately $1,422,000. Murchinson Ltd. purchased a new stake in Vale during the 3rd quarter valued at $11,680,000. NFJ Investment Group LLC raised its holdings in Vale by 17.6% during the 3rd quarter. NFJ Investment Group LLC now owns 469,036 shares of the basic materials company's stock valued at $5,478,000 after buying an additional 70,278 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its position in Vale by 5.8% in the third quarter. Integrated Wealth Concepts LLC now owns 73,037 shares of the basic materials company's stock worth $853,000 after buying an additional 4,007 shares during the last quarter. 21.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Vale from $16.50 to $15.00 and set an "overweight" rating on the stock in a research report on Monday, September 23rd. Scotiabank cut their price target on shares of Vale from $16.00 to $14.00 and set a "sector perform" rating on the stock in a report on Wednesday, November 20th. Barclays decreased their price objective on shares of Vale from $16.00 to $15.25 and set an "overweight" rating for the company in a research note on Wednesday, December 4th. UBS Group lowered Vale from a "buy" rating to a "neutral" rating and dropped their target price for the company from $14.00 to $11.50 in a research report on Monday, November 11th. Finally, StockNews.com began coverage on Vale in a report on Friday, December 13th. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Vale currently has an average rating of "Hold" and an average price target of $14.38.

Vale Trading Up 1.4 %

Shares of NYSE VALE traded up $0.12 during trading hours on Friday, reaching $8.90. The stock had a trading volume of 35,323,207 shares, compared to its average volume of 27,814,803. Vale S.A. has a 52-week low of $8.69 and a 52-week high of $16.08. The firm has a market cap of $39.90 billion, a price-to-earnings ratio of 4.12, a P/E/G ratio of 0.27 and a beta of 0.91. The business's fifty day moving average price is $10.16 and its two-hundred day moving average price is $10.65. 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 (NYSE:VALE - Get Free Report) 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. Vale had a return on equity of 21.07% and a net margin of 22.59%. The business had revenue of $9.55 billion during the quarter, compared to analyst estimates of $9.61 billion. During the same period in the previous year, the company posted $0.66 EPS. Analysts expect that Vale S.A. will post 2.08 EPS 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.