Fisher Asset Management LLC Increases Stock Holdings in Vale S.A. (NYSE:VALE)

Fisher Asset Management LLC grew its position in Vale S.A. (NYSE:VALE) by 10.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,404,942 shares of the basic materials company’s stock after acquiring an additional 1,682,544 shares during the quarter. Fisher Asset Management LLC owned about 0.39% of Vale worth $203,290,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of VALE. SPX Gestao de Recursos Ltda boosted its holdings in shares of 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 valued at $245,404,000 after acquiring an additional 8,288,112 shares during the period. Marshall Wace LLP boosted its holdings in shares of Vale by 395.3% in the second quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock valued at $79,889,000 after acquiring an additional 5,707,969 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Vale by 110.9% in the second quarter. Van ECK Associates Corp now owns 5,459,485 shares of the basic materials company’s stock valued at $60,983,000 after acquiring an additional 2,871,094 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Vale by 27.8% in the second 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 acquiring an additional 2,578,900 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Vale in the third quarter valued at approximately $30,038,000. 21.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VALE. Wolfe Research downgraded Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. StockNews.com began coverage on Vale in a report on Friday, October 18th. They set a “buy” rating for the company. UBS Group downgraded Vale from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $14.00 to $11.50 in a report on Monday, November 11th. JPMorgan Chase & Co. decreased 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. Finally, Scotiabank decreased their price target on Vale from $16.00 to $14.00 and set a “sector perform” rating for the company in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.13.

Vale Price Performance

Vale stock opened at $10.06 on Tuesday. Vale S.A. has a one year low of $9.66 and a one year 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. The business has a fifty day moving average of $10.75 and a two-hundred day moving average of $11.00. The company has a market cap of $45.10 billion, a P/E ratio of 4.66, a price-to-earnings-growth ratio of 0.27 and a beta of 0.94.

Vale (NYSE:VALE) last announced its quarterly 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 analysts’ expectations of $9.61 billion. During the same quarter last year, the business posted $0.66 earnings per share. As a group, analysts predict that Vale S.A. will post 2.12 earnings per share for the current fiscal 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.