Northwest Bancshares Inc. Buys New Stake in Vale S.A. (NYSE:VALE)

Northwest Bancshares Inc. bought a new stake in Vale S.A. (NYSE:VALE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 399,207 shares of the basic materials company’s stock, valued at approximately $4,663,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Pacifica Partners Inc. acquired a new position in shares of Vale in the second quarter worth $27,000. Lowe Wealth Advisors LLC purchased a new stake in shares of Vale during the 2nd quarter worth $45,000. Phillips Wealth Planners LLC purchased a new stake in shares of Vale during the 3rd quarter worth $118,000. Vawter Financial Ltd. purchased a new stake in shares of Vale during the 2nd quarter worth $124,000. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in shares of Vale during the 2nd quarter worth $125,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Price Performance

Shares of NYSE:VALE opened at $10.01 on Wednesday. The company has a 50-day simple moving average of $10.78 and a 200-day simple moving average of $11.07. 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 stock has a market capitalization of $44.88 billion, a price-to-earnings ratio of 4.63, a PEG ratio of 0.26 and a beta of 0.94.

Vale (NYSE:VALE) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. Vale had a net margin of 22.59% and a return on equity of 21.07%. The business had revenue of $9.55 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same period in the previous year, the business posted $0.66 earnings per share. On average, analysts predict that Vale S.A. will post 2.12 EPS for the current year.

Analyst Ratings Changes

VALE has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research report on Monday, September 23rd. Scotiabank reduced their price target on shares of Vale from $17.00 to $16.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 15th. StockNews.com began coverage on shares of Vale in a research report on Friday, October 18th. They issued a “buy” rating for the company. Wolfe Research cut shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. Finally, UBS Group cut shares of Vale from a “buy” rating to a “neutral” rating and reduced their price target for the company from $14.00 to $11.50 in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.83.

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.