Sompo Asset Management Co. Ltd. Sells 1,670 Shares of Vale S.A. (NYSE:VALE)

Sompo Asset Management Co. Ltd. trimmed its stake in Vale S.A. (NYSE:VALE) by 7.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,890 shares of the basic materials company’s stock after selling 1,670 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Vale were worth $256,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of VALE. SPX Gestao de Recursos Ltda lifted its stake in 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 buying an additional 8,288,112 shares during the period. Marshall Wace LLP lifted its stake in 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 buying an additional 5,707,969 shares during the period. Van ECK Associates Corp lifted its stake in 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 buying an additional 2,871,094 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in 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 buying an additional 2,578,900 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Vale in the third quarter valued at about $30,038,000. 21.85% of the stock is currently owned by institutional investors.

Vale Price Performance

Shares of NYSE VALE opened at $10.02 on Monday. The stock has a market cap of $44.92 billion, a PE ratio of 4.64, a price-to-earnings-growth ratio of 0.27 and a beta of 0.94. Vale S.A. has a fifty-two week low of $9.66 and a fifty-two week 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 fifty day moving average of $10.76 and a 200-day moving average of $11.02.

Vale (NYSE:VALE) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.55 billion during the quarter, compared to analyst estimates of $9.61 billion. During the same quarter last year, the company earned $0.66 earnings per share. Equities research analysts anticipate that Vale S.A. will post 2.12 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on VALE shares. JPMorgan Chase & Co. dropped their price target on Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, September 23rd. Scotiabank dropped their price target on 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 started coverage on Vale in a research report on Friday, October 18th. They set a “buy” rating on the stock. Morgan Stanley dropped their price target on Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research report on Thursday, September 19th. Finally, UBS Group downgraded Vale from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $14.00 to $11.50 in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Vale currently has an average rating of “Hold” and a consensus price target of $15.13.

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.