Massachusetts Financial Services Co. MA Acquires 53,061 Shares of Vale S.A. (NYSE:VALE)

Massachusetts Financial Services Co. MA grew its holdings in shares of Vale S.A. (NYSE:VALE) by 0.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 11,906,975 shares of the basic materials company’s stock after acquiring an additional 53,061 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Vale were worth $139,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in VALE. SPX Gestao de Recursos Ltda grew its holdings in Vale by 60.6% during 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 purchasing an additional 8,288,112 shares during the period. Marshall Wace LLP grew its stake in shares of Vale by 395.3% during the 2nd quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock worth $79,889,000 after acquiring an additional 5,707,969 shares during the period. Van ECK Associates Corp increased its holdings in Vale by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 5,459,485 shares of the basic materials company’s stock worth $60,983,000 after acquiring an additional 2,871,094 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Vale in the 3rd quarter valued at about $30,038,000. Finally, Artemis Investment Management LLP purchased a new stake in Vale during the third quarter valued at about $23,622,000. 21.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on VALE shares. JPMorgan Chase & Co. reduced their target price on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research note on Monday, September 23rd. Scotiabank reduced their price objective on shares of Vale from $16.00 to $14.00 and set a “sector perform” rating for the company in a research note on Wednesday. Morgan Stanley lowered their target price on shares of Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a report on Thursday, September 19th. StockNews.com initiated coverage on Vale in a report on Friday, October 18th. They issued a “buy” rating for the company. Finally, Wolfe Research cut Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Vale presently has a consensus rating of “Hold” and an average price target of $15.13.

Vale Stock Up 0.6 %

VALE opened at $10.02 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58. Vale S.A. has a one year low of $9.66 and a one year high of $16.08. The firm has a market capitalization of $44.92 billion, a P/E ratio of 4.64, a price-to-earnings-growth ratio of 0.27 and a beta of 0.94. The company has a fifty day moving average price of $10.76 and a 200-day moving average price of $11.03.

Vale (NYSE:VALE) last posted its 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. 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 period in the previous year, the business earned $0.66 earnings per share. Equities research analysts expect that Vale S.A. will post 2.12 earnings per share 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.