Wellington Management Group LLP Buys 600,755 Shares of Vale S.A. (NYSE:VALE)

Wellington Management Group LLP boosted its holdings in shares of Vale S.A. (NYSE:VALE - Free Report) by 36.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,255,889 shares of the basic materials company's stock after buying an additional 600,755 shares during the quarter. Wellington Management Group LLP owned about 0.05% of Vale worth $26,349,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Vale in the 3rd quarter worth $28,000. Point72 Hong Kong Ltd acquired a new position in shares of Vale during the 3rd quarter worth about $36,000. Phillips Wealth Planners LLC bought a new stake in Vale during the 3rd quarter valued at approximately $118,000. Vawter Financial Ltd. acquired a new stake in Vale in the 2nd quarter valued at approximately $124,000. Finally, Signature Estate & Investment Advisors LLC bought a new position in Vale in the 2nd quarter worth approximately $125,000. 21.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on VALE shares. UBS Group cut Vale from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $14.00 to $11.50 in a research report on Monday, November 11th. Scotiabank decreased their price target on shares of Vale from $16.00 to $14.00 and set a "sector perform" rating on the stock in a research report on Wednesday, November 20th. StockNews.com began coverage on shares of Vale in a research report on Friday. They set a "buy" rating for the company. Wolfe Research downgraded Vale from a "peer perform" rating to an "underperform" rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. cut their price target on Vale from $16.50 to $15.00 and set an "overweight" rating for the company in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $14.38.

Vale Price Performance

Shares of Vale stock traded down $0.21 during midday trading on Friday, hitting $9.26. 27,085,145 shares of the company 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 $10.73. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58. The firm has a market cap of $41.51 billion, a P/E ratio of 4.28, a PEG ratio of 0.27 and a beta of 0.91. Vale S.A. has a 52 week low of $9.22 and a 52 week high of $16.08.

Vale (NYSE:VALE - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 21.07% and a net margin of 22.59%. During the same period last year, the business earned $0.66 earnings per share. Research analysts forecast that Vale S.A. will post 2.08 earnings per share for the current year.

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.